Citi says the U.S. Commerce Department issuing export licensing requirements for Nvidia’s (NVDA) H20 and AMD‘s (AMD) MI308 chips into China will negatively impact AMD’s GPU, Micron’s (MU) high bandwidth memory and Broadcom’s (AVGO) shipments to China. However, these are already incorporated in Citi’s recently trimmed estimates, the analyst tells investors in a research note. The firm estimates at most “low-single digit risk” for AMD and points out Micron is already mostly cut off from China. Citi reiterates a Neutral rating on AMD and Buy ratings on Micron and Broadcom.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMD:
- Nvidia Faces $5.5B Charge on New H20 Export Curbs to China Placed “Indefinitely”
- Closing Bell Movers: Nvidia sags on disclosure of China export charge
- ‘Looks Like a Steal,’ Says Investor About AMD Stock
- AI Daily: Apple to analyze user info to bolster AI feature
- Big banks report Q1 beats, China stops taking Boeing deliveries: Morning Buzz
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue