The Ratings Game: ‘The thrill is gone’ on AMD stock, but Intel is looking better: Analyst

Shares of Advanced Micro Devices Inc. have been red-hot since the start of the pandemic, but one analyst worries that momentum could stall due to a possible slowdown in digital-transformation efforts and remote-work initiatives.

Northland Capital Markets analyst Gus Richard warned Monday that unit demand for the semiconductor industry could decline next year, while 2023 could bring “excess capacity.” He downgraded AMD AMD and upgraded Intel Corp. INTC, giving them both ratings equivalent to a “hold.”

“Demand…