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The AMD share price has been in a strong bearish trend in the past few months as concerns about the company’s products. It has fallen in the past four straight weeks and is now trading at the lowest level since July 2020. The stock has crashed by more than 60% from its highest level this year, giving it a market cap to over $93 billion. Is now a good time to buy AMD? AMD is a leading semiconductor company that builds some of the most advanced chips in the industry. The company sells some of the top computer processors, graphics, accelerators, and other products. It is also a leading player in software products. Most of its products are used in data center and cloud, high-performance computing, business and workstations, gaming, and personal computing. AMD stock price has crashed hard in the past few days as investors react to the company’s weak preliminary results. The firm said that its Q3 sales will be about $5.6 billion, which was lower than the median estimate of over $6.7 billion. In a statement, the company said that the company was seeing a weaker-than-expected PC market. Dr. Lisa Su, the company’s CEO said: “While our product portfolio remains very strong, macroeconomic conditions drove lower than expected PC demand and a significant inventory correction across the PC supply chain." The AMD share price has collapsed as analysts lowered their expectations for the stock. Northland Securities lowered their target from $105 to $80. Similarly, those at Cowen, Citigroup, Bank of America, Craig Hallum, and Deutsche Bank downgraded their view. The most bearish analysts are from Citigroup, who brought the stock to $65. So, what next for AMD? In my view, I believe that AMD is an excellent company with a strong and growing market share. As such, I suspect that this decline will continue to fall in the near term. However, in the long term, the stock will likely bounce back. AMD share price forecast The daily chart shows that the AMD stock price has been in a strong bearish trend in the past few days. It dropped to the lower side of the descending channel which is shown in green. The stock moved below all moving averages and the important support level at $71.95, which was the lowest level on July 6. Oscillators continued falling. Therefore, the stock will likely continue falling as sellers target the next key support level at $50. A move above the resistance level at $65 will invalidate the bearish view.