Welcome to Seeking Alpha's Wall Street Lunch. Our afternoon update on today's market action, news, and analysis.

Good afternoon. Today is Monday, June 10 and I'm your host Kim Khan. Our

taught story so far. The cell side is expressing some caution on the AI freight train.

Morgan Stanley downgraded AMD to equal weight from from overweight keeping its $176 price target.

Analysts Joseph Morris says, we like the AMD story, but investor expectations for the AI business

still seem too high for us.

We see limited upward revision potential for AI from here

and we move to equal weight,

with a preference for NVIDIA and Broadcom

among large-cap AI semis.

Invidia itself is at 1% in its first post-stock split session.

Goldman Sachs says,

in theory, there's no change in the underlying value of a company

when it splits its stock.

However, empirically, the academic literature has generally found positive announcement effects

around stock splits.

Strategist David Kosten says mega-'s stock splits tend to generate more retail trading activity than the average post-split stock.

In addition, greater liquidity can play a role.

Also today, Barclays boosted its revenue projections for

NVIDIA citing an additional $25 billion opportunity from sovereign nations

building up their AI capabilities. Sovereign sales could mean

157.1 billion in fiscal

...