AMD: A Second Half Growth Story
Update - May 23, 2023
The market has definitely bought into the AI growth story and the 2H sales ramp. AMD hit a new 52-week high at $111 and probably rallies further falling a pause.
Original article posted on May 2
- Advanced Micro Devices, Inc. reported mixed Q1 2023 results, beating analyst estimates, but revenues and EPS dipped from prior year levels.
- The chip company is poised for a second-half rebound, with the Client business rebounding and market share gains in data center and AI.
- AMD stock remains cheap, trading below ~20x consensus '24 EPS targets and far below normalized EPS targets.
- This idea was discussed in more depth with members of my private investing community, Out Fox The Street. Learn More »