Despite Mixed Market Trends, AMD Receives Strong Support from Analysts Ahead Of Q3
Portfolio Pulse from Anusuya Lahiri
Analysts from Rosenblatt, Raymond James, KeyBanc, and BMO Capital have reiterated their positive ratings on Advanced Micro Devices, Inc (AMD), ahead of its Q3 earnings. They expect AMD to deliver in-line results, with robust data center and PC CPU dynamics offsetting weaker enterprise, embedded, and PC gaming trends. The analysts also anticipate a bullish posture in strategic product areas, including the new MI300A/X APU/GPU compute accelerators. AMD is installing MI300A into the El Capitan supercomputer and the MI300X is expected to ramp up in 2024. AMD is also reportedly working with Microsoft Corp (MSFT), Meta Platforms Inc (META), and Amazon.Com Inc (AMZN).
October 30, 2023 | 5:54 pm
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NEUTRAL IMPACT
AMD is reportedly working with Amazon.Com Inc (AMZN) on its new MI300A/X APU/GPU compute accelerators.
While the news of AMD working with Amazon could be seen as a positive development for both companies, it's unclear how much this will impact Amazon's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
AMD is reportedly working with Meta Platforms Inc (META) on its new MI300A/X APU/GPU compute accelerators.
While the news of AMD working with Meta could be seen as a positive development for both companies, it's unclear how much this will impact Meta's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
AMD is reportedly working with Microsoft Corp (MSFT) on its new MI300A/X APU/GPU compute accelerators.
While the news of AMD working with Microsoft could be seen as a positive development for both companies, it's unclear how much this will impact Microsoft's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Analysts expect AMD to deliver in-line Q3 earnings and anticipate a bullish posture in strategic product areas. AMD is installing MI300A into the El Capitan supercomputer and the MI300X is expected to ramp up in 2024.
The positive ratings from multiple analysts and the expected in-line Q3 earnings could boost investor confidence in AMD, potentially driving its stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100