Northland on AMD (AMD): 'We think fast money moves out at the open and would be a buyer the weakness'
Northland analyst Gus Richard reiterated an Outperform rating and $175.00 price target on AMD (NASDAQ: AMD).
The analyst comments "AMD reported an inline quarter and guided Q1 inline with consensus. AMD expects strong double-digit AI growth in CY25 and share gains in server and PC. AI revenue is expected to be flat 1H:25/2H:24, raising investor concerns. However, we have modeled a much stronger 2H and expect AI revenue to be $9.2B on the back of the MI350 in 2H. After being oversold, AMD shares bounced yesterday. We think fast money moves out at the open and would be a buyer the weakness."
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Shares of AMD closed at $119.50 yesterday.