AMD Stock Dips Amid Tepid Analyst Sentiment Ahead of Earnings
Advanced Micro Devices shares declined 1.6% as Morgan Stanley maintained a cautious stance ahead of quarterly results. Analyst Joseph Moore's $246 price target suggests minimal upside, reflecting concerns about near-term GPU growth despite AMD's AI ambitions with its upcoming MI450 accelerator.
The semiconductor firm faces heightened expectations after consistently outperforming estimates - beating EPS targets in six of the last eight quarters and revenue projections seven times. Tonight's report carries particular significance as AMD seeks to justify its valuation in the competitive AI hardware space.