The average price target is far more bullish than Seymore allows at $127.43, the figure makes room for 12-month gains of 42%. (To watch Seymore’s track record, click here)ħ other analysts join the Deutsche Bank expert on the sidelines, but with an additional 18 Buys, the stock claims a Moderate Buy consensus rating. That said, with shares are now trading 14% above his recently revised $85 price target and given investors are “less willing to stomach growth names in the current market,” heading into the print, Seymore sticks with a Hold (i.e. “Overall,” the analyst wraps up, “heading into a challenging macroeconomic environment we remain encouraged AMD can gain share/grow due to its strong product line-up (and due to weaker competitive pressures in the medium term as its primary competitor attempts to regain its footing).”
Seymore, as does the Street, expects EPS of $1.10. Likewise for the bottom-line, Seymore is calling for EPS of $1.07, a touch above consensus at $1.05.įor Q3, Seymore expects AMD will guide for revenues of $6.82 billion, amounting to a 58% year-over-year uptick and “in line” with the Street’s forecast of $6.81 billion.
The analyst is calling for revenue of $6.61 billion (up 72% year-over-year), above the mid-point of guidance ($6.3-6.7 billion) and higher than the Street’s $6.53 billion forecast. Seymore might be heeding caution, but as far as expectations for the quarter go, his are at the high end. The short-term issues currently center on the waning demand in PC/CPUs, but Seymore thinks that even Data Center – which has so far been immune to the macro developments – will take a tumble eventually, although AMD’s share gains in the segment will be able to “somewhat offset” the overall anticipated weakness. “While we do still view AMD’s CY22 guidance to be attainable, we recently lowered our 2H22 forecast and 2023/2024 outlooks to reflect the softening macro environment.” “Overall, we expect AMD to deliver a solid print in its first quarter since its Analyst Day and since re-segmenting revenues,” says the 5-star analyst. Will it be a “drop the mic” quarter? Not quite, says Deutsche Bank’s Ross Seymore. All eyes last week were drawn to the tech giants’ earnings but this week has some big names reporting too after the market closes today, Advanced Micro Devices ( AMD ) will grab hold of the earnings mic to deliver Q2’s results.
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