Wolfe Research has downgraded Advanced Micro Devices Inc. (AMD) to Peer Perform from Outperform, citing lower expectations for datacenter GPU revenue. The firm has revised its forecast for AMD's datacenter GPU sales in 2025 to $7 billion, down from a previous estimate exceeding $10 billion. Analyst Chris Caso of Wolfe Research also removed his price target on AMD, which was most recently set at $210. The downgrade comes as AMD's stock has declined 18% over the last twelve months, in contrast to Nvidia Corp. (NVDA), which has seen a 149% increase in the same period. AMD's current valuation stands at 28 times earnings per share, compared to Nvidia's 32 times.