AMD shares tank as Morgan Stanley slips the knife in
 

GPU sales will fall in two key markets

AMD’s shares fell as a Wall Street analyst warned the fabless chip maker would face demand problems for its GPUs next year in two key markets.

Morgan Stanley reduced its rating for AMD shares to underweight from equal-weight, predicting cryptocurrency mining and gaming console demand for its graphics chip business will falter in 2018.

The company's shares fell nine percent after the report. The stock declined 13.5 percent last Wednesday, a day after it gave fourth-quarter profitability guidance below some Wall Street estimates. Monday's drop took the stock into the red for the year, with the shares now down more than 4 percent for 2017.

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