AMD Gains 2% As HSBC Upgrades on AI Potential

seekingalpha04-16

AMD was in focus on Tuesday as HSBC upgraded the semiconductor company, citing its belief that the artificial intelligence GPU market will have more than enough for multiple companies to benefit....

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Any new products from AMD are likely to be launched in the second-half of 2024 and could be competition for the GB200, Lee posited.In accordance with the upgrade, Lee boosted his 2024 and 2025 earnings per share estimates to reflect updated AI revenue and better performance from non-AI segments.AMD is slated to report first-quarter results on May 1, with analysts expecting earnings of $0.61 per share on $5.45B in revenue.Analysts are largely bullish on AMD. It has a BUY rating from Seeking Alpha authors, while Wall Street analysts rate it a BUY. 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