Advanced Micro Devices stock analysis (AMD)

AMD retrieved after its AI event on Thursday. MSFT, Oracle, META these major players were all at the event. Stock is flat on Friday.  

There are a lot of anticipation around AMD’s upcoming event and their AI product announcements. CEO Lisa Su’s presentation on GPUs is seen as a potential catalyst for the stock. Analysts  are indeed excited about the potential of the new MI325 accelerator and Turin CPU. The forward guidance and sales forecasts are always a hot topic, especially when the Streets expect AMD to raise the full-year AI sales forecast to over 5 billion. The acquisition of ZT system for $4.9B is also a significant move for AMD, aimed at expanding its data center AI systems capabilities. This acquisition is expected to help AMD to compete more effectively with NVDA in the AI infrastructure market. Although trailing NVDA, AMD continues to see high demand. There is speculation on whether AMD will raise its guidance during the event or wait till the end of the month with earning.

Bank of America highlighted AMD’s upcoming AI event on 10/10 as a potential catalyst for the stock.