New Street Research Maintains AMD (AMD) Neutral, 'Inventory correction continues' (correction)

New Street Research analyst Pierre Ferragu upgraded AMD (NASDAQ: AMD) from Neutral to Buy with a price target of $75.00

The analyst comments "AMD also Hit by cloud digestion. Datacenter guided down double digits sequentially driven by cloud inventories draw-downs, which will persist throughout 1H23. This lines up with Intel’s comments last week. Inventory correction continues in PCs. Revenues guided down single digits sequentially driven by OEM inventory drawdowns and an aggressive pricing environment."

For an analyst ratings summary and ratings history on AMD click here. For more ratings news on AMD click here.

Shares of AMD closed at $75.15 yesterday.

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