AMD's Near-Term Pullback a Buying Opportunity with Strong Revenue Projections in AI: Analyst
Portfolio Pulse from Anusuya Lahiri
Raymond James analyst Srini Pajjuri reiterated a Strong Buy on AMD with a price target of $145.00, viewing any near-term pullback as a buying opportunity. Despite potential risks to AMD's 3Q outlook, Pajjuri expects an acceleration starting in 4Q driven by broadening Genoa and Bergamo CPU ramps, cyclical PC recovery, and El Capitan supercomputer. AMD's Gen AI GPU (MI300X) is on track to launch in 4Q and appears well-suited for internal inferencing workloads at Hyperscalers. AMD is believed to be working with Microsoft, Meta Platforms, and Amazon, with potential for significant revenues in 2024.
July 25, 2023 | 5:19 pm
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POSITIVE IMPACT
AMD's stock is expected to accelerate starting in 4Q due to broadening Genoa and Bergamo CPU ramps, cyclical PC recovery, and El Capitan supercomputer. The company's Gen AI GPU is on track to launch in 4Q.
The analyst's positive outlook on AMD, including the reiteration of a Strong Buy rating and a high price target, suggests strong potential for the company's stock. The upcoming launch of the Gen AI GPU and collaborations with major tech companies like Microsoft, Meta, and Amazon further support this outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Amazon is believed to be working with AMD, which could potentially contribute to its revenues.
The collaboration with AMD could potentially contribute to Amazon's revenues, although the exact impact is not specified in the article.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Meta Platforms is believed to be working with AMD, which could potentially contribute to its revenues.
The collaboration with AMD could potentially contribute to Meta Platforms' revenues, although the exact impact is not specified in the article.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Microsoft is believed to be working with AMD, which could potentially contribute to its revenues.
The collaboration with AMD could potentially contribute to Microsoft's revenues, although the exact impact is not specified in the article.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50