Do Advanced Micro Devices, Inc. (NASDAQ:AMD) investors have a reason to be concerned? Susquehanna analyst Christopher Rolland sure does think so. The analyst just downgraded AMD to Negative (from Neutral), with a $7.50 price target, which represents a potential downside of 29% from where the stock is currently trading.

The reason? Mining giant Bitmain is planning to roll out Ethereum ASIC Miner, which will feature 3 motherboards and each of them will be packed with 6 ASICs along with 32 x 1GB DDR3 memory chips that would make a very powerful cryptocurrency miner. ASIC Miners might be the answer to end the GPU shortage and a negative for AMD.

Rolland commented, “We confirm a Bitmain Ethereum ASIC. In today’s “The Steam Shovel Cometh… ETH Mining Gets its ASIC”, we downgrade AMD to Negative as we confirm the existence of a Bitmain ASIC for Ethereum mining. While we acknowledge this call is early, as significant GPU channel replenish is needed, we estimate ~20% of AMDs sales are Ethereum related.”

The analyst highlights another nagative for AMD: “Android 3D sensing supply chain a mess. While some will emulate 3D sensing with “stereoscopic” methods using the front camera, most believe real IR-based 3D systems won’t emerge until late 2018.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Christopher Rolland has a yearly average return of 10.5% and a 64.8% success rate. Rolland has a -1.2% average return when recommending AMD, and is ranked #327 out of 4757 analysts.

The majority of the Street sides with the Susquehanna analyst’s cautious take on the chip giant, as TipRanks analytics demonstrate AMD as a Hold. Out of 15 analysts polled in the last 3 months, 7 are bullish on AMD stock, 4 remain sidelined, and 4 are bearish on the stock. With a return potential of 47.5%, the stock’s consensus target price stands at $15.68.