As previously reported, BofA upgraded AMD (AMD) to Buy from Neutral with a price target of $120, up from $105. AMD’s Q1 beat and “strong” Q2 sales outlook that was 10% above the firm’s forecast despite a $700M China headwind addresses the firm’s pre-call concerns regarding China AI restriction headwinds and Nvidia (NVDA) GPU competition, the analyst tells investors. The firm sees AMD having potential to deliver 20%-plus topline growth in calendar year 2025 and 2026, despite China headwinds, the analyst added.
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