Barclays cut Advanced Micro Devices Inc. (AMD) to \"sell\" from \"hold\" on concerns that the strong market for the company's GPU cards, which are used to mine cryptocurrencies, is not sustainable. <\/p>\n
AMD shares were down 4% to $13.26 in premarket trading Tuesday. <\/p>\n
\"Bottom line, we are not at all bullish on the sudden surge on demand for GPU cards from cryptocurrency mining. We see a fair bit of similarities to what happened in 2013\/2014, which was a more than a one-quarter bust for AMD, after the boom in cryptocurrency mining,\" Tuesday's note said. <\/p>\n
What's Hot On TheStreet <\/p>\n
Netflix is so impressive: By trouncing quarterly subscriber estimates and issuing solid guidance, Netflix Inc. (NFLX) did much to put to rest fears that its stock had gotten ahead of itself following a 31% rise so far in 2017, TheStreet's Eric Jhonsa says. The streaming giant also showed that it has reached a point where its sheer scale provides a competitive edge that makes it hard for even deep-pocketed tech and media rivals to slow it down, Jhonsa adds. <\/p>\n
Overall, Netflix is an unstoppable beast because millennials like watching movies on the couch. <\/p>\n
Tesla is bizarre: Tesla Inc. (TSLA) is adding two new executives from major media corporations to its board of directors after investors urged the electric carmaker to add members without close ties to CEO Elon Musk, TheStreet reports. <\/p>\n
James Rupert Murdoch, the CEO of Twenty-First Century Fox Inc. (FOXA) , and Linda Johnson Rice, the chairman of Johnson Publishing Co., will join Tesla's board, according to a company blog post. <\/p>\n
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