AMD slides as Daiwa downgrades after big rally ahead of shareholder meeting
AMD•AMD shares were pressured after a new same-day analyst downgrade from Daiwa, which cited the stock’s sharp recent run-up even while lifting its price target. The move also coincided with AMD’s May 13 annual shareholder meeting, a scheduled event that can add near-term headline risk but is typically routine.
1) What happened today
On May 13, 2026, AMD traded lower as a notable same-day catalyst hit the tape: Daiwa Capital Markets downgraded AMD from Buy to Outperform, arguing the stock’s near-term upside could moderate after an exceptionally large rally, even while raising its price target to $500 from $250.
2) Why it matters
A downgrade after a rapid run can trigger near-term profit-taking and de-risking, particularly in crowded momentum names. While the rating remained positive-sounding (Outperform), the change in stance can still influence short-term positioning because it signals a less aggressive risk/reward view at current levels.
3) Other same-day context
AMD also held its Annual Meeting of Stockholders on May 13, 2026, a pre-announced corporate event that is usually not a fundamental catalyst by itself but can attract incremental attention to governance items and any forward-looking commentary.
