Advanced Micro Devices Gearing Up For Growth In AI Sector, Predicts Bullish Analyst
Portfolio Pulse from Priya Nigam
Advanced Micro Devices (AMD) is expected to grow in the AI sector, with its GPU revenues predicted to increase in the latter half of the year, according to Northland Capital Markets. The firm's analyst, Gus Richard, upgraded AMD's rating to Outperform, maintaining a price target of $150. Richard also suggested that AMD's GPU market share could grow from 18% in 2022 to 20% over time, potentially due to the need for a second source to NVIDIA (NVDA).
July 05, 2023 | 2:23 pm
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POSITIVE IMPACT
AMD's growth in the AI sector is predicted to drive its GPU revenues and increase its market share. The company's rating has been upgraded to Outperform by Northland Capital Markets.
The news of AMD's predicted growth in the AI sector and the upgrade of its rating to Outperform by Northland Capital Markets is likely to positively impact the company's stock in the short term. The expectation of increased GPU revenues and market share growth also adds to the positive outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
NVIDIA, the current leader in GPUs, may face increased competition from AMD as the latter is expected to gain market share.
The news of AMD's predicted growth in the GPU market share could potentially impact NVIDIA negatively in the short term, as it suggests increased competition for the company.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50