Advanced Micro Devices shares moved lower again Friday following a price target and ratings change from a top Wall Street analyst tied in part to a new challenge for the AI chipmaker heading into 2025.

The semiconductor maker has underperformed peers amid a contrast between the haves and the have-nots in the chip sector, the bank says.

Key Takeaways Advanced Micro Devices shares fell Wednesday after a double downgrade by analysts at HSBC to "reduce" from "buy."The firm cut its forecast for AMD's artificial intelligence chip revenue in 2025 and said an upcoming chip from the company is unlikely to compete with Nvidia's offerings.