1 Wall Street Firm Thinks Advanced Micro Devices Stock Is Going to $185 Instead of $200 -- But Is It Still a Buy?
Analysts at Susquehanna are sounding a note of caution ahead of Advanced Micro Devices' (NASDAQ: AMD) first-quarter earnings report due on Tuesday after the market close.
The firm maintained a positive rating on the shares but lowered its price target from $200 to $185. The analysts expect the company to issue weaker guidance in the upcoming report that could limit the stock's near-term upside. Here's why.
Investors are anticipating great news from the company's data center business, where revenue surged 43% in the fourth quarter of 2023 over the previous quarter. AMD has previously guided for its data center graphics processing units (GPUs), which are in high demand for artificial intelligence (AI), to rake in around $3.5 billion in revenue this year.
Source Fool.com