Advanced Micro Devices Inc Stock Forecast:
According to a forecast from 29 analysts, the average analyst target price for Advanced Micro Devices Inc over the next 12 months is USD 99.45. The average analyst rating for the stock is Strong Buy. Stock Target Advisor’s analysis of the stock is Slightly Bullish, with 8 positive signals and 6 negative signals. The stock price for Advanced Micro Devices Inc at the last closing was USD 89.91, which has increased by 7.29% over the past week but decreased by 8.26% over the past month. However, it has increased by 0.08% over the last year.
Advanced Micro Devices Inc. News:
Advanced Micro Devices Inc.’s shares slumped on Tuesday after the chipmaker forecasted quarterly sales below estimates due to a weak PC market. This overshadowed the company’s optimism that the chip market would start to recover in the second half of 2023.
The company missed analyst estimates for PC and data center chips sales for the first quarter, which caused its shares to fall.
AMD forecasted current-quarter revenue of about $5.3 billion, plus or minus $300 million. Analysts polled by Refinitiv were expecting revenue of $5.48 billion. Revenue in the fiscal first quarter ended April 1 came in at $5.35 billion, compared with estimates of $5.30 billion.
Analysts Coverage Change:
- Citigroup maintains a Neutral rating for Advanced Micro Devices (AMD:NSD) stock, and raise the target price to$85from $76.
- Raymond James maintains a Strong Buy rating for AMD stock, and lowers the target price to $110 from $115.
- Northland Capital maintains the Market Perform rating and raises the target price to$81 from $68.
- Benchmark Research maintains a Buy rating and raises the target price to$108 from $103.
- Bank of America Merrill Lynch downgrades AMD stock from Buy to Neutral, and lowers the target price to $95 from $98.
- TD Cowen maintains an Outperform rating for AMD stock, and lowers the target price to$115 from $120.
- Morgan Stanley & Co. maintains an Overweight rating and lowers the target price to $97 from $102.
- Goldman Sachs & Co. maintains a Buy rating for AMD, and raises the target price to $97 from $87.
- Susquehanna International Group raises the target price to $120 from $115.
- Craig-Hallum Capital Group upgrades AMD to a Buy rating and raises the target price to 100 from $76.