Wolfe Research says the firm’s artificial intelligence checks on AMD (AMD) were below expectations. Original design manufacturer build plans currently suggest only modest quarterly growth next year versus Q4 of 2023 run rates, the analyst tells investors in a research note. Based on the checks, Wolfe expects “only” $7B of AI revenue in 2025 for AMD, below what it believes is a buy-side expectation of $10B. The firm also expect PC to be less than seasonal in Q1 due to overall sluggish demand and a high base in Q4. The setup for AMD shares into the January quarter earnings is difficult, Wolfe contends.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMD:
- AMD price target lowered to $145 from $156 at Truist
- White House to target Chinese chips with trade probe, NY Times reports
- SMCI’s Shocking Nasdaq-100 Exit: Is a Massive Comeback on the Horizon?
- Notable open interest changes for December 16th
- U.S. Considers Appointing GOOGL and MSFT as AI Gatekeepers