Advanced Micro Devices: S&P Intraday Laggard
NEW YORK (TheStreet) -- Advanced Micro Devices(AMD) was the worst performer in the S&P 500 on Tuesday morning.
The S&P 500 was rising almost 1 point, or 0.06%, to 1,353.
Shares of "> AMD were falling 7.47% to $5.20. The chipmaker said it sees a sequential decrease in revenue of 11% for the second quarter, down from a prior forecast for growth of 3%.
AMDtrades at an estimated price-to-earnings ratio for next year of 14.41 times; the average among its peers is 17.56. For comparison, Intel(INTC) has a lower forward P/E of 10.68.
Fifteen of the 34 analysts who cover Advanced Micro Devices rated it hold. Thirteen analysts gave the stock a buy rating and six rated it sell.
The stock has fallen 3.89% year to date.
-- Written by Alexandra Zendrian
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