AMD's Rising Star - What's Behind Goldman Sachs' Surprising Price Target Increase?

Benzinga2023-12-19

ZINGER KEY POINTSGoldman Sachs raises AMD's target to $157, predicts strong Data Center GPU market performance.AMD's revenue and EPS forecasts for 2023-2025 see significant upward revisions, driving ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1109584076?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-12-19 16:16","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1109584076","market":"us","top_or_hot":-1,"title":"AMD's Rising Star - What's Behind Goldman Sachs' Surprising Price Target Increase?","media":"Benzinga","content":"<div>\n<p>ZINGER KEY POINTSGoldman Sachs raises AMD's target to $157, predicts strong Data Center GPU market performance.AMD's revenue and EPS forecasts for 2023-2025 see significant upward revisions, driving ...</p>\n\n<a href=\"https://www.benzinga.com/news/23/12/36286495/amds-rising-star-whats-behind-goldman-sachs-surprising-price-target-increase\">Source Link</a>\n\n</div>\n","source":"lsy1606299360108","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMD's Rising Star - What's Behind Goldman Sachs' Surprising Price Target Increase?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMD's Rising Star - What's Behind Goldman Sachs' Surprising Price Target Increase?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-12-19 16:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/23/12/36286495/amds-rising-star-whats-behind-goldman-sachs-surprising-price-target-increase><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ZINGER KEY POINTSGoldman Sachs raises AMD's target to $157, predicts strong Data Center GPU market performance.AMD's revenue and EPS forecasts for 2023-2025 see significant upward revisions, driving ...</p>\n\n<a href=\"https://www.benzinga.com/news/23/12/36286495/amds-rising-star-whats-behind-goldman-sachs-surprising-price-target-increase\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MRVL","symbol_name":"迈威尔科技","start_time":0,"source_url":"https://www.benzinga.com/news/23/12/36286495/amds-rising-star-whats-behind-goldman-sachs-surprising-price-target-increase","article_id":"1109584076","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1109584076","pubTimestamp":1702973792,"sourceInfo":{"source_id":"lsy1606299360108","name":"Benzinga"},"weMediaInfo":null,"summary":"ZINGER KEY POINTSGoldman Sachs raises AMD's target to $157, predicts strong Data Center GPU market performance.AMD's revenue and EPS forecasts for 2023-2025 see significant upward revisions, driving o","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"MRVL":"迈威尔科技","ARM":"ARM Holdings Ltd","AMD":"美国超微公司","NVDA":"英伟达","WDC":"西部数据","CRDO":"CREDO TECHNOLOGY GROUP HOLDING LTD","AVGO":"博通","INTC":"英特尔","MU":"美光科技"},"translate_title":"AMD的后起之秀——高盛出人意料的目标价上调背后是什么？","themeId":"95e3e7595ac2407d82a2e646db9ba6e0","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AMD":1.1,"ARM":1.1,"AVGO":1.1,"CRDO":1.1,"INTC":1.1,"MRVL":1.1,"MU":1.1,"NVDA":1.1,"WDC":1.1},"content_text":"ZINGER KEY POINTSGoldman Sachs raises AMD's target to $157, predicts strong Data Center GPU market performance.AMD's revenue and EPS forecasts for 2023-2025 see significant upward revisions, driving optimism.Goldman Sachs analyst Toshiya Hari maintained Advanced Micro Devices Inc with a Buy and raised the price target from $137 to $157.Hari increased his 2024 and 2025 revenue estimates for AMD by 7% and 10%, respectively, as he reflected on last week's supply chain checks that indicated broad-based adoption of the company's MI300 Data Center GPU offering across the cloud and enterprise markets. Precisely, for Data Center GPUs, the analyst now models 2023, 2024, and 2025 revenue of $595 million, $4.0 billion, and $7.9 billion, respectively. Hari's 2024 and 2025 adjusted EPS (excluding SBC) estimates increase 11% and 12% from $3.88 and $6.40 to $4.30 and $7.18, respectively, on higher revenue and higher gross margin (Data Center GPUs being accretive to corporate gross margins) only partially offset by higher operating expenditure. From a stock perspective, the analyst envisions AMD's early success in Data Center GPUs augmenting what he expects to be a constructive year for its server CPU franchise (i.e., market recovery + sustained market share gains) and ultimately driving outperformance in 2024. Within the context of the U.S. Semiconductor space, Hari believes Nvidia Corp, AMD, Arm Holdings Plc, Broadcom Inc, Marvell Technology, Inc, Credo Technology Group Holding Ltd, and Micron Technology, Inc are well-positioned to benefit from the ongoing build-out of data center AI infrastructure. Within Hari's coverage universe, he views Intel Corp, Western Digital Corp, and AMD as the key beneficiaries of a resumption of PC volume growth.The analyst continues to be bullish on Micron and expects improving industry supply/demand dynamics to drive a multi-quarter positive EPS revision cycle.For AMD, Hari projects CY23 revenue and EPS of $22.63 billion and $2.70, CY24 revenue and EPS of $27.82 billion (prior $26.07 billion) and $4.30 (prior $3.88), and CY25 revenue and EPS of $36.23 billion (prior $32.83 billion) and $7.18 (prior $6.40).","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":10,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1109584076"}