tiprankstipranks

Citi says chip ban already baked into AMD, Micron estimates

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.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Disclaimer & DisclosureReport an Issue