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Ahead of its fourth-quarter earnings tomorrow, AMD saw its price target cut by Cantor Fitzgerald, with data center revenues expected to remain below consensus. AMD’s shares have demonstrated lackluster performance over the past six months as markets have questioned the firm’s ability to compete with NVIDIA in the AI industry and remained downbeat about the performance of the PC market during the year’s first half. Cantor kept AMD’s share rating at Overweight as part of a note that reduced the share price target to $135 from $150.
AMD Scores Another Bearish Analyst Note Ahead Of Q4 Earnings
Before Cantor’s price cut today, several investment banks and firms have already turned bearish on AMD’s prospects. Bank of America got the ball rolling in December as it slashed AMD’s price target to $155 from $180 and reduced its rating from Neutral to Buy. As part of its coverage, the bank noted that constrained supplies of NVIDIA’s Blackwell GPUs would increase demand for custom AI chips from Marvell and Broadcom and reduce the market available for AMD’s products. It added that AMD would face a tighter PC market in 2025 but added that AMD might growth its revenue between 15% to 20% annually by capitalizing on Intel’s weakness.
BofA was followed by equally bearish coverage from HSBC and Goldman Sachs. HSBC’s note cut AMD’s share price target to $110 from $200 as it noted that
AMD Price Target Slashed By Investment Bank Ahead Of Q4 Earnings
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