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Baird trims AMD target on 2019 headwinds

Published 12/13/2018, 08:55 AM
Updated 12/13/2018, 08:55 AM
© Reuters.  Baird trims AMD target on 2019 headwinds
  • Baird maintains a Neutral rating on AMD (NASDAQ:AMD) but lowers the target from $25 to $23.
  • Analyst Tristan Gerra expects EPYC and the 7nm refresh to serve as the key 2019 drivers, offset by an estimated 40% revenue headwind in semi custom and GPUs.
  • The analyst says Asian supply chain checks suggest graphics card inventory levels are near six months in China and three months at resellers, twice the normal levels.
  • Gerra notes that easy comps will allow for a return to double-digit revenue growth in 2020.
  • AMD shares are up 0.7% premarket to $20.63.
  • Now read: Advanced Micro Devices: Time To Take The Plunge?


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