This article first appeared on GuruFocus.
Advanced Micro Devices (NASDAQ:AMD) shares rose about 2% on Wednesday after Susquehanna lifted its price target on the chipmaker to $375 from $300 ahead of first-quarter results due on May 5.
AMD may post stronger-than-expected results and guidance, driven by data center demand, including server chips and its MI350 accelerator line, Susquehanna analyst Christopher Rolland said in a note to clients. He kept a Positive rating on AMD.
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Rolland said AMD's data center GPU business is expected to keep expanding in the first half of 2026, with a sharper ramp likely later in the year when MI450 and Helios launch. He also pointed to 6-gigawatt hardware deals disclosed by OpenAI and Meta Platforms (NASDAQ:META), with the first gigawatt expected in the second half of 2026.
Rolland estimated AMD could generate $17 billion in GPU revenue in 2026. Wall Street consensus expects AMD to report earnings of $1.29 a share on revenue of $9.89 billion.
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