Reported 1 day ago
HSBC has reaffirmed a 'Buy' rating for Advanced Micro Devices Inc. (AMD) but reduced the price target from $200 to $185 due to a decrease in the average selling price of its M1355 chip. Despite this revision, HSBC believes that Wall Street is underestimating AMD's AI GPU business, projecting its 2026 AI GPU revenue at $13.9 billion, which is still above consensus estimates, as the company is poised to benefit from partnerships with major cloud providers.
Source: YAHOO