AMD's AI and Data Center Prospects Eyeing Market Share Growth, Analysts Say
Portfolio Pulse from Anusuya Lahiri
Analysts from Mizuho and KeyBanc have reiterated positive ratings on Advanced Micro Devices, Inc (AMD), citing potential growth in AI and data center market share. Mizuho analyst Vijay Rakesh maintains a Buy rating with a price target of $140, while KeyBanc analyst John Vinh has an Overweight rating with a price target of $160. Both analysts see AMD as well-positioned to capture market share with its MI300X in 2024, and anticipate strong revenue and EPS for 3Q, 4Q, and FY23.
October 03, 2023 | 7:57 pm
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POSITIVE IMPACT
Analysts maintain positive ratings on AMD, citing potential growth in AI and data center market share. They anticipate strong revenue and EPS for 3Q, 4Q, and FY23.
The positive ratings from analysts and the anticipation of strong revenue and EPS indicate a positive short-term impact on AMD's stock.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
AMD is seen as attractive vs. Nvidia Corp (NVDA) at >40x F24E P/E.
The comparison of AMD being more attractive than NVDA could potentially have a negative short-term impact on NVDA's stock.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50