Will 2022 Be Another Great Year for AMD?
In this video, I will be talking about Advanced Micro Devices (NASDAQ: AMD), the recent analyst upgrades, its partnerships with Big Tech, and its third-quarter financials. You can find the video below but here are the highlights.
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AMD's $35 billion acquisition of Xilinx will be concluded in Q1 of 2022. Xilinx is the leader in field-programmable gate arrays and together they'll most likely take more market share from Intel.
- AMD recently got two upgrades. One is from KeyBanc, which upgraded to overweight from sector weight with a $155 price target. And another is from Goldman Sachs, where the analyst has a $170 price target on the stock.
- As far as partnerships with Big Tech, AMD does very well. Meta Platforms will use AMD chips to power the metaverse and help run its data centers. Tesla's new Model 3 and Model Y vehicles will be equipped with the new AMD Ryzen chip in 2022. And earlier this month AMD announced that Amazon Web Services has expanded its AMD EPYC processor-based offerings with the general availability of the new Amazon EC2 Hpc6a Instances, which are purpose-built for high-performance computing workloads in the cloud.
- With deals like these, investors can get excited for what is still to come.
- Last quarter, AMD reported earnings per share of $0.73, beating estimates of $0.67, and revenue of $4.30 billion, beating estimates of $4.12 billion.
For the full insights, watch the video below and consider subscribing.
*Stock prices used were the closing prices of Jan. 17, 2022. The video was published on Jan. 18, 2022.
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