According to Hari, AMD is now "priced for perfection." Hari says while AMD's "execution (i.e. new product launches, cost management and [balance sheet] deleveraging) has improved under CEO Lisa Su, we believe current risk-return is unfavorable. Related Link: Breaking Down AMD's Technical Levels Hari expects rivals NVIDIA Corporation NVDA and Intel Corporation INTC to fight back if AMD gains any more ground in terms of pricing. Goldman expects analyst day on May could be a negative catalyst for AMD. Goldman's bearish outlook for AMD seems to be more about valuation than performance.