HSBC analysts on Wednesday downgraded AMD (NASDAQ:AMD) stock to Reduce from Buy, and nearly halved their price target to $110 from $200, citing a less competitive AI GPU roadmap.

Nvidia's GeForce RTX 5070 graphics cards and laptops are expected to deliver unmatched gaming responsiveness and image quality while minimising latency and ensuring improved battery life.

AMD introduced its newest AI-centric PC processors, further broadening its offerings for both personal and professional use.