- Advanced Micro Devices(AMD) CEO Lisa Su was relatively upbeat about the PC market.
- AMD provided new specifications on many of its upcoming products.
- KeyBanc was more bullish on AMD stock following Analyst Day.
At its Financial Analyst Day yesterday, Advanced Micro Devices(NASDAQ:AMD) predicted its sales could jump20% annually. The company also stated it would release a series of new products that would “deliver its next phase of growth,” and its CEO, Lisa Su, sounded fairly optimistic about the PC market. In the wake of Analyst Day, AMD stock is outperforming the Nasdaq by a small margin.
What Financial Analyst Day Means for AMD Stock
AMD disclosed new information on many of the upcoming offerings it plans to release over the longer term. Keeping all of this in mind, here are several things that investors will want to know about AMD’s Financial Analyst Day.
- Su believes the demand for PCs is dropping, but remains “reasonably strong,”Barron’s reported.
- Beginning with its upcoming Q2 earnings, AMD will provide the financial results for its data center, embedded, client and gaming segments.
- The company released new specifications on its central processing unit (CPU) core, graphics and adaptive computing architecture as well as new data on its upcoming products for data centers.
- AMD stated the artificial intelligence (AI) engine of Xylinx, a company which AMD acquired in February, would enhance the ability of many of AMD’s products to handle tasks related to AI.
- In the wake of Analyst Day, KeyBanc stated it’s more optimistic about AMD’s ability to grow its sales at a 20% annual clip and continue taking market share from Intel(NASDAQ:INTC).
- KeyBanc kept a $150 price target and an “overweight” rating on AMD stock.
AMD’s shares have tumbled nearly 37% so far this year.
