AMD likely to show ‘continued positive momentum’ with Q3 results: Piper Sandler
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Contributor since / Followers
Contributor since / Followers
2 months ago
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- AMD (NASDAQ:AMD) is slated to report third-quarter results on October 29 and investment firm Piper Sandler expects to hear “continued positive momentum” from the Dr. Lisa Su-led company, particularly around its artificial intelligence-focused GPUs.
- “Overall, our model is currently in-line with Street expectations, however we see upside coming from outperformance in the data center segment driven by MI300 adoption,” analyst Harsh Kumar wrote in a note to clients. “For December guidance, we see the implied GPU ramp surpassing the $5B+ FY24 expectation which many investors have pointed to as the goal for yearly GPU revenues. Looking ahead to 2025, we continue to see AMD hitting the next milestone of $10B+ in GPU revenues driven by improved rack-level performance, better supply, and a combination of MI300 and MI325 adoption.”
- Kumar has an Overweight rating and $200 price target on AMD, which is also the firm’s top large-cap pick.
- A consensus of analysts expects AMD will earn $0.92 per share on $6.71B in revenue for the third quarter.