Nomura Securities maintains a 'Neutral' on AMD (AMD); Lowering PT & Estimates on Q3 Pre-announcement

Nomura Securities maintains a 'Neutral' on AMD (NYSE: AMD) price target cut from $7.00 to $5.00.

Nomura analyst, Romit Shah, said, "We believe AMD had a tremendous opportunity to gain revenue share in notebooks this year. However, a lack of component supply has been a major impediment to growth, as evidenced by yesterday’s negative pre-announcement, and will likely not be resolved in the near term. We believe AMD will have to cut ASPs meaningfully next year to sustain market share. Our 2011E EPS goes to $0.42 from $0.60 and 2012E goes to $0.50 from $0.65."

For more ratings news on AMD click here and for the rating history of AMD click here.

Shares of AMD closed at $6.15 yesterday.

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