.png)
2 hours ago
Advanced Micro Devices, Inc. (NASDAQ:AMD) shares are trading lower on Wednesday.
Yesterday, the company reported fourth-quarter revenue of $7.66 billion, beating analyst estimates of $7.53 billion. The chipmaker reported fourth-quarter adjusted earnings of $1.09 per share, beating analyst estimates of $1.08 per share.
AMD expects first-quarter revenue of approximately $7.1 billion, plus or minus $300 million. The company’s revenue guidance represents year-over-year growth of approximately 30% at the midpoint.
Here are the analysts’ takes on the earnings results:
BofA Securities analyst Vivek Arya reiterated the Neutral rating on the stock, lowering the price forecast to $135 from $155.
The analyst noted the company’s struggle to carve out a niche against NVIDIA Corporation‘s dominance and the rise of custom AI chips.
The analyst writes AMD’s fourth quarter was in line with expectations, with stronger PC sales offsetting weakness in data centers.
Arya adds that first quarter sales are expected to be modestly better, driven by consumer PC and gaming, unlike Intel Corporation’s weaker outlook.
For the AI GPU segment, the analyst now forecasts $7.5 billion in 2025, slightly lower than the previous $8 billion estimate.
See Also: AMD Vs. Qualcomm: Semiconductor Showdown Ahead Of Earnings
Goldman Sachs analyst Toshiya Hari maintained Neutral ...
