Wedbush analyst Matt Bryson lowered the firm’s price target on AMD to $130 from $155 and keeps an Outperform rating on the shares following quarterly results. The firm notes Q4 forecasts were shy of expectations as a downturn in AMD’s embedded business is more pronounced than had previously been anticipated as customers work down accumulated inventory. Further, AMD guided for $400M in datacenter GPU related sales in Q1 2024 and $2B-plus in revenue for 2024, Wedbush says.
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