The Fly

UBS upgraded AMD to Buy, expects PC ‘replenishment’ during FY23

UBS analyst Timothy Arcuri upgraded AMD to Buy from Neutral with a price target of $95, up from $75. The PC segment has been early in digesting inventory and been dragging down growth, but overall CPU shipments are annualizing to about 230MM units in Q4, which is "far below even the most bearish market forecasts for PCs in 2023", the analyst tells investors in a research note. Arcuri further anticipates "some replenishment" moving through FY23, adding that compute hardware "typically out-performs off the bottom".

Published first on TheFly

See the top stocks recommended by analysts >>

Read More on AMD:

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More