AMD: The $145 Recovery Rally is Coming Next Week
Posted: Nov 23, 2024
- Earnings beat revenue expectations with $6.82B and EPS of .92
- Data center revenue surged +122%, showing AMD gaining AI momentum
- Recent selloff was a market overreaction to soft Q4 guidance
- Shift in focus to NVIDIA's upcoming earnings
- Catalysts: Workforce optimization, IBM partnership, and AI-focused leadership changes
- Reduction in Force, New Leadership, and IBM Partnership for an AI-dominated future
- Analysts targeting $160-$180 for AMD
- Predicting $145+ next week as the market refocuses on AMD's strengths
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