AMD's Stock Soars as Goldman Sachs Increases Price Target
TL;DR Summary
Goldman Sachs analyst Toshiya Hari maintained a Buy rating on AMD and raised the price target from $137 to $157. Hari increased revenue estimates for 2024 and 2025, citing broad-based adoption of AMD's MI300 Data Center GPU in the cloud and enterprise markets. The analyst expects early success in Data Center GPUs to drive outperformance in 2024, along with a constructive year for AMD's server CPU franchise. Hari also believes that several other semiconductor companies, including Nvidia, Arm Holdings, and Micron Technology, are well-positioned to benefit from the ongoing build-out of data center AI infrastructure.
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