Advanced Micro Devices Inc
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$887.00 | Vygpxwj | Gjgxrdtcqr |
Advanced Micro Devices Earnings: Fair Value Estimate Intact as Firm Provides Good News on AI GPUs
Narrow-moat Advanced Micro Devices reported solid second-quarter results and provided investors with a healthy third-quarter forecast, highlighted by the firm’s upbeat commentary around its artificial intelligence graphics processor, or GPU, business. We maintain our $145 fair value estimate and view shares as fairly valued. While we’re pleased to see the firm lift its 2024 AI GPU revenue outlook to $4.5 billion from $4.0 billion, we’re not altering our long-term AI GPU forecast too much and acknowledge the wide range of outcomes for the fast-moving AI GPU industry.