“While AMD has made significant progress, we view Nvidia hardware as generally ahead by 0.5-1 year, particularly in the system/rack approach, where AMD currently has no experience of building in large scale,” wrote BofA Securities analyst Vivek Arya in research note on Wednesday. He rates AMD stock at Buy with a $200 price target.

Sure, Advanced Micro Devices (AMD) was reporting its quarterly results, but the world's second-largest economy loomed large after the chipmaker’s earnings fell short of expectations and raised concerns about the timing of a restart of shipments to China.