- Analysts comment on Advanced Micro Devices (NASDAQ:AMD) following yesterday’s earnings report.
- Morgan Stanley’s Joseph Moore called the Q3 results “disappointing” since the upside came from graphics and game consoles rather than the more sustainable microprocessors, which showed little growth in a normally seasonally strong quarter.
- Moore cuts CY17 EPs estimate to $0.15 from $0.18 citing higher operating expenses.
- Morgan Stanley (NYSE:MS) rates AMD at Equal Weight with a $11 price target.
- JPMorgan’s Harlan Sur praises AMD’s execution on CPU and GPU product ramps but expects stiff competition as competitors including Intel (NASDAQ:INTC) also release new products.
- Sur expects Intel to ramp up its 10nm client CPU products next year and for AMD to get a “modest” CPU/GPU market share.
- JPMorgan (NYSE:JPM) has AMD rated at Neutral with a $16 price target.
- Source: Bloomberg First Word
- AMD shares are down 13.44%.
- Previously: AMD reports Q3 beats but expects Q/Q revenue drop; shares down 10.4% (Oct. 24)
- Now read: AMD Doubles Down On Virtual Reality
Original article