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AMD: shares slide after analyst downgrade

( - Advanced Micro Devices shares fell on Thursday after an analyst downgraded the shares of the Californian chipmaker, saying it is "time for a breather.

Aaron Rakers at Wells Fargo said that, at current levels, he sees the shares "approaching levels that present a more balanced risk/reward."

The analyst has hence downgraded the stock from "overweight" to "equal weight," while raising his target price to 64 dollars, from 55 dollars previously.

The shares were down 0.2% at 58.7 dollars following these comments. They are still up over 27% year-to-date.

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