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AMD: A Second Half Growth Story

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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. 

Finviz Chart

 

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 » 
Based on the weak chip market, Advanced Micro Devices, Inc. (NASDAQ:AMD) wasn't expected to provide impressive results with Q1 2023 numbers. The semiconductor company has always been poised for the next leg forward in the

Read the full article on Seeking Alpha. 

Disclosure: No positions mentioned. Please review the disclaimer page for more details. 

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