AMD, which lost over $2.8B in 5 years, takes a hit after new report

Enlarge / Texas Governor Greg Abbott (center) tests the Oculus virtual reality device at Advanced Micro Devices (AMD) in Austin as AMD CEO Lisa T. Su (r) watches following an Abbott bill signing that reduced Texas' franchise tax by 25 percent in June 2015. (credit: Robert Daemmrich Photography Inc/Corbis via Getty Images))

On Monday, AMD's stock price plunged nearly 9 percent after a report by Morgan Stanley, a major investment bank, which found that "microprocessor momentum" has slowed.

According to CNBC, a new report by analyst Joseph Moore found that "cryptocurrency mining driven sales for AMD's graphics chips will decline by 50 percent next year or a $250 million decline in revenue. He also forecasts video game console demand will decline by 5.5 percent in 2018."

Once a veritable competitor to Intel, AMD has struggled in recent years, although it has had some modest successes-as measured by a rise in its stock price-in 2016 and 2017.

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