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At its Financial Analyst Day yesterday, Advanced micro-systems (NASDAQ:AMD) predicted his sales could jump 20% per year. The company also said it would launch a series of new products that would “deliver its next phase of growth”, and its CEO, Lisa Su, seemed quite optimistic about the PC market. In the wake of Analyst Day, AMD stock outperforms Nasdaq by a small margin.
What Financial Analyst Day Means for AMD Stock
AMD has leaked new information on many upcoming offerings that it plans to release in the longer term. With all that in mind, here are several things investors will want to know about AMD’s Financial Analyst Day.
- Su thinks PC demand is falling, but still “reasonably strong” Barrons reported.
- Beginning with its upcoming second quarter results, AMD will provide 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 data center products.
- AMD said the artificial intelligence (AI) engine of Xylinx, a company that AMD acquired in Februarywould improve the ability of many AMD products to handle AI-related tasks.
- Following Analyst Day, KeyBanc said it was more optimistic about AMD’s ability to grow sales at a 20% annual rate and continue to take market share at Intel (NASDAQ:INTC).
- KeyBanc retained a price target of $150 and an “overweight” rating on AMD stocks.
AMD shares have fallen nearly 37% so far this year.
As of the date of publication, Larry Ramer had (neither directly nor indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com publishing guidelines.
Article printed on InvestorPlace Media, https://investorplace.com/2022/06/amd-stock-news-6-takeaways-from-advanced-micro-devices-financial-analyst-day/.
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