AMD hits 3-month low as BofA cuts to 'neutral'
** Shares of Advanced Micro Devices AMD.O down 4% at $133 after hitting its lowest level in 3-months at $132.40
** BofA Global Research cuts to "neutral" from "buy", trims PT to $155 from $180
** Higher competitive risks in AI against best-of-breed Nvidia NVDA.O dominance, and growing cloud preference for custom chips from MRVL/AVGO, limiting AMD's market share gain potential - BofA
** AMD's challenge next year will be to take share in enterprise PC segment where INTC is dominant, while fending off threat from ARM-based ARM.O rivals - BofA
** Average rating of 54 brokerages covering stock is "buy"; median PT $180 - LSEG
** Stock falls for the third straight session, down 9% YTD including session losses compared to 22% rise in the Philadelphia chip index .SOX
Reporting by Medha Singh
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