Piper Sandler Reiterates Overweight Rating on AMD (AMD)

Piper Sandler analyst Harsh Kumar reiterated an Overweight rating and $280.00 price target on AMD (NASDAQ: AMD)

The analyst comments: "We attended AMD's analyst day yesterday in NYC, where the company presented a new model based on a $1T silicon TAM by 2030, representing a 40% CAGR versus its prior $500B target by 2028. We came away impressed by management's line of sight toward a $20 EPS by 2030, which likely includes revenue from the OpenAI partnership. AMD also projected an 80%+ data center AI revenue CAGR over the next 3-5 years, with near-term growth expected to exceed that pace. We were also positive on the near-complete solution being brought to the table with the Helios rack. While AMD will not sell the rack solution itself, we note they will implement most of the key components within the rack including GPU, CPU, networking, and DPU. Overall, we are very pleased with the presented roadmap, and are optimistic on the company's outlook."

For an analyst ratings summary and ratings history on AMD click here. For more ratings news on AMD click here.

Shares of AMD closed at $237.52 yesterday.

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