Morgan Stanley analyst Joseph Moore lowered the firm’s price target on AMD to $128 from $138 and keeps an Overweight rating on the shares. The firm contends that the “headline” from AMD’s Q3 report was commentary that MI300 sales will be at least $2B in calendar 2024, with data center GPU at about $400M in Q1, mostly from AI. The company’s “mixed outlook charitably still provides a great setup” for calendar 2024, the analyst tells investors in a post-earnings note.
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