Goldman Sachs’s Toshiya Hari is unmoved today in the case of Advanced Micro Devices (AMD), maintaining a Sell rating, and a $10.60 price target, following the company's better-than-expecteded Q2 yesterday, arguing that despite progress in the business, costs are keeping profit boxed in.

"AMD’s management has successfully introduced multiple new products without any major disruptions, which we acknowledge to be a significant improvement vs “the old AMD” (i.e. where product ramps were impacted by yield issues),” writes Hari.

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