Advanced Micro Devices (AMD – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Joseph Moore from Morgan Stanley maintained a Hold rating on the stock and has a $121.00 price target.
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Joseph Moore has given his Hold rating due to a combination of factors. The recent launch of AMD’s MI350 was anticipated, but the real potential lies in the upcoming MI400/450 products expected next year. These future products could significantly impact AMD’s market position, provided they can deliver on their promises.
While existing cloud customers like Oracle, Microsoft, and Meta have shown positive feedback towards AMD’s ecosystem, this hasn’t fundamentally altered the investment thesis. Although AMD has secured a place among major AI companies, their ability to expand within these key customers remains crucial. The current revenue trends suggest a cautious approach, especially with Nvidia’s competitive presence looming as they exit the allocation environment.
Moore covers the Technology sector, focusing on stocks such as Nvidia, Marvell, and Advanced Micro Devices. According to TipRanks, Moore has an average return of 11.1% and a 57.45% success rate on recommended stocks.
In another report released today, Citi also reiterated a Hold rating on the stock with a $120.00 price target.