AMD's $800 million export restriction drags down performance expectations, HSBC slashes target price by 20% to $70.

According to the Zhixun Finance and Economics APP, although AMD (AMD.US) is expected to achieve its financial goals for the first quarter, the $800 million impairment loss caused by US export controls on artificial intelligence chips is continuing to impact its future performance outlook. HSBC's latest research report has significantly lowered AMD's target price from $90 to $70 and reiterated a "sell" rating.