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Goldman Sachs downgrades AMD to Sell despite record Q2 revenue and AI growth.

Analyst Insights
13 Aug 2026
Tony Dante
View Source
Neutral
Goldman Sachs downgrades AMD to Sell despite record Q2 revenue and AI growth.

Goldman Sachs downgraded Advanced Micro Devices (AMD) to a Sell rating despite the company reporting record Q2 revenue of $11.54 billion, driven largely by its Data Center segment which accounts for 58% of sales. AMD projects strong Q3 revenue of $13 billion and continues to gain market share in server CPUs, supported by AI investments from Microsoft and Meta. However, some analysts remain cautious due to industry volatility and supply chain risks, while others like Bernstein maintain a Buy rating with a $650 price target, reflecting mixed market views on AMD's near-term outlook.

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