AMD reported good results but lowered guidance, says Citi

Citi says AMD reported good Q3 results but lowered guidance on weakness in the embedded and gaming segments. However, the company expects over $2B in AI MI300 sales in 2024 and reiterated its expectation of 50% data center growth in the second half of 2023 versus the first half, the analyst tells investors in a research note. Citi slightly reduced estimates but reiterates a Buy rating on the shares with a $136 price target.