1456 ET - Despite reporting beats on sales and earnings per share, Advanced Micro Devices shares are down 6%, after SpaceX CEO Elon Musk said his company would exclusively buy chips from Nvidia. The comments underscore AMD's fierce competition in the space, with Oppenheimer analysts writing in a note that the company may continue playing catch-up with Nvidia. "We see a competitive environment where NVDA maintains a clear performance lead and continues to push the goalposts forward with its annual cadence," the analysts write. "We remain on the sideline as AMD's AI efforts play out."
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