Here’s Why Truist Slashed Price Targets on AMD, Intel, Nvidia

Here’s Why Truist Slashed Price Targets on AMD, Intel, Nvidia
An Intel logo hangs from a beam during the Mobile World Congress in Barcelona, Spain, on March 1, 2017. Josep Lago/AFP via Getty Images
Benzinga
Updated:

Truist analyst William Stein warned against the sustained semiconductor rally due to a sudden negative shift in demand signals from a wide swath of computer, consumer, and communications OEMs to at least some of their semi-suppliers.

The cuts mainly related to production in the second quarter, but demand throughout the year’s second half remained strong.