AMD's Stock Near-Term Correction Is A Buying Opportunity: Goldman Sachs Analyst
Portfolio Pulse from Anusuya Lahiri
Goldman Sachs analyst Toshiya Hari maintained a Buy rating on Advanced Micro Devices Inc (AMD) and raised the price target from $157 to $180, citing a near-term correction as a buying opportunity. AMD reported Q4 revenue of $6.2 billion, slightly above consensus, but adjusted EPS was below Hari's estimates. Despite expected weakness in the Gaming business, strong customer traction in the Data Center GPU business and positive revenue guidance revision are seen as positives. AMD's exposure to generative AI, server CPU market share growth, and margin expansion are highlighted as key drivers.
February 01, 2024 | 7:39 pm
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Goldman Sachs analyst Toshiya Hari maintains a Buy rating on AMD, raising the price target from $157 to $180, highlighting the company's strong Q4 performance and positive outlook in Data Center GPU business and AI.
The upgrade in price target by Goldman Sachs, based on AMD's Q4 performance and optimistic revenue guidance, especially in the Data Center GPU business, indicates a strong bullish sentiment. The emphasis on AMD's growing exposure to generative AI and server CPU market share growth, along with potential for margin expansion and earnings growth, supports a positive short-term impact on AMD's stock price.
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IMPORTANCE 90
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