[新聞] 富國銀行認為，AMD股票的財報情況「棘

看板Stock作者 (andylu1207)時間2周前 (2024/04/11 08:10), 編輯推噓35(41推 6噓 24→)
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原文標題：AMD stock: Wells Fargo sees a 'tricky' earnings setup 原文連結：https://reurl.cc/KeKeoq 發布時間：04/09/2024, 09:39 AM 原文內容： With AMD (NASDAQ:AMD) stock down in recent weeks, analysts at Wells Fargo previe wed the company’s first-quarter earnings report. Unfortunately for investors, Wells Fargo sees the company as having a “tricky s etup” into the print. Why AMD stock is down in recent weeks AMD’s stock price has experienced a significant decline, falling over 20% in th e last month and a further 5% in the last week of trading, now hovering around t he $170 per share level. This is a stark contrast to just a few weeks ago when t he stock was trading above the $200 per share mark. Artificial intelligence related stocks have surged this year, and AMD, as one of those stocks, has benefitted. However, interest rate uncertainty has helped to weigh on AMD shares, while there have also been questions regarding the company ’s current valuation. With questions about its outlook also coming into play, A MD’s stock has experienced a move lower in recent weeks. Tech stocks, including semiconductor chip names, are generally sensitive to inte rest rate movements as the companies sometimes rely on borrowing to fund researc h and development. Even so, some analysts remain bullish. On Monday, Melius raised the price target on AMD to $265 from $192 while maintaining a Buy rating. The firm said AMD is “looking like the ‘Nvidia mini.’” “With a chip optimized for the inferencing explosion, AMD is just getting going as AI models move into production,” said Melius. ”AMD’s chart even feels lik e a mini-Nvidia on a delay.” “Nvidia continues to do AMD and everyone else a favor by expanding the market a nd driving awareness,” added Melius. “Their success has only accelerated the d esire for a (distant) number 2 branded provider." Wells Fargo sees a tricky earnings setup Despite the positivity from Melius, analysts at Wells Fargo, when previewing the chipmaker’s first quarter earnings report, said they see a “tricky setup” fo r the company. “AMD discussions remain focused on the MI300X upside bogey,” said the bank. “ AMD sentiment has waned over the past month given: 1. Possible cuts in MSFT's MI 300X deploy — we see this as too narrowly cited. 2. Concern over Samsung (KS:00 5930) HBM3 supply for MI300X — we see this concern as overdone. 3. A renewed/de epened appreciation for NVDA's full stack post-GTC — we agree; we still model A MD's at a sub-10% DC GPU share.” Wells Fargo estimates that AMD has had a 40% or more server CPU ship share in hy perscale cloud in the past — a share position they see as more likely higher fo r internal workloads compared to external hyperscale cloud services. With this in mind, the bank said that investors will be interested in AMD's thou ghts on whether they have seen any signs of a recovery in traditional servers wi thin their hyperscale cloud customers while also garnering an increased share in external services. Furthermore, they state AMD's share trends in traditional sy stem OEMs also remain an incremental growth driver. Wells Fargo models AMD’s first quarter revenue at $5.46 billion and its EPS at $0.62. 翻譯： 近幾周，由於AMD（NASDAQ：AMD）股票下跌，富國銀行的分析師們預覽了該公司的第一季度 財報。 對於投資者來說，不幸的是，富國銀行認為該公司在財報公佈之前的情況是“棘手的”。 AMD的股價出現了顯著下降，過去一個月下跌了逾20％，上周交易進一步下跌了5％，目前大 約在每股170美元左右。這與僅幾周前該股票交易在每股200美元以上的情況形成了鮮明對比 。 人工智能相關股票今年大幅上漲，而AMD作為其中之一，也受益。然而，利率不確定性使得A MD股票承受壓力，同時也有關於公司目前估值的疑問。隨著對其前景的疑問也開始浮出水面 ，AMD股票近幾周出現了下跌。 科技股票，包括半導體晶片公司，在利率變動方面通常很敏感，因為這些公司有時依賴借貸 來資助研發。 即便如此，一些分析師仍然看好。周一，Melius將AMD的目標價提高到265美元，而維持買入 評級。 該公司表示，AMD“看起來像是‘迷你版的英偉達’。” “隨著針對推斷爆炸的芯片優化，AMD正在起步，因為人工智能模型開始投入生產，”Meliu s說道。“甚至AMD的圖表都像是一個延遲的迷你英偉達。” “英偉達繼續幫助AMD和其他所有人擴大市場並提高意識，”Melius補充道。“他們的成功 只加速了對（遙遠的）第二大品牌供應商的渴望。” 富國銀行認為財報情況棘手 儘管Melius表示積極樂觀，但富國銀行的分析師在預覽這家晶片製造商的第一季度財報時表 示，他們認為公司面臨“棘手的情況”。 “AMD的討論仍然集中在MI300X上的上行目標，”該銀行說道。“由於以下原因，過去一個 月來AMD的情緒已經下降：1.微軟（MSFT）可能會削減MI300X的部署——我們認為這太狹隘 了。2.對於三星（KS：005930）HBM3供應MI300X的擔憂——我們認為這種擔憂是過度的。3. 對於英偉達在GTC後的全套裝備的重新/加深的賞識——我們同意；我們仍然認為AMD的DC GP U份額低於10％。” 富國銀行估計，過去AMD在超大規模雲中具有40％或更高的伺服器CPU出貨份額——他們認為 這個份額相對於外部超大規模雲服務而言，在內部工作負載方面更可能更高。 考慮到這一點，該銀行表示，投資者將對AMD對於他們是否看到傳統服務器在超大規模雲客 戶中的任何復甦迹象以及在外部服務中獲得增加份額感興趣。此外，他們還指出，AMD在傳 統系統OEM中的份額趨勢仍然是增量增長的驅動因素。 富國銀行將AMD的第一季度收入估計為54.6億美元，每股盈利為0.62美元。 心得評論： 有人認為微軟削減MI300X 還有HBM產能不夠分給AMD. 但據我所知 Nvidia佔了大部分或是幾乎全部的HBM3e產能了 如果AMD之後要用HBM3e 可能寥 寥無幾. 難怪這個月跌了快30%.. 財報前這種消息真的涼了 大夥兒 我們還是乖乖TSM+NVDL吧！ -- ※ 發信站: 批踢踢實業坊(ptt.cc), 來自: 172.56.150.56 (美國) ※ 文章網址: https://www.ptt.cc/bbs/Stock/M.1712794231.A.D2F.html
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04/11 08:11, 2周前 , 1F
鑽石加大
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04/11 08:12, 2周前 , 2F
便宜不買 怎麼賺錢
04/11 08:12, 2F
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04/11 08:13, 2周前 , 3F
MI300X這下真的免費也沒人要了QQ
04/11 08:13, 3F
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04/11 08:14, 2周前 , 4F
呼叫a90
04/11 08:14, 4F
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04/11 08:15, 2周前 , 5F
好 美光噴
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04/11 08:15, 2周前 , 6F
彎腰撿鑽石
04/11 08:15, 6F
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04/11 08:16, 2周前 , 7F
a90是不是高歌離席惹QQ
04/11 08:16, 7F
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04/11 08:20, 2周前 , 8F
AMD YES
04/11 08:20, 8F
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04/11 08:22, 2周前 , 9F
教主喊300 坐等教主開示
04/11 08:22, 9F
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04/11 08:22, 2周前 , 10F
Amd=崩=卒業預定
04/11 08:22, 10F
噓
04/11 08:23, 2周前 , 11F
蘇媽484不行惹
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04/11 08:27, 2周前 , 12F
99,A90
04/11 08:27, 12F
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04/11 08:27, 2周前 , 13F
買nv 空amd 組合不錯
04/11 08:27, 13F
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04/11 08:27, 2周前 , 14F
需要臺資相挺，一人一張救救AMD
04/11 08:27, 14F
噓
04/11 08:28, 2周前 , 15F
崩潰
04/11 08:28, 15F
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04/11 08:28, 2周前 , 16F
富國銀行是誰？
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04/11 08:29, 2周前 , 17F
教主自從嘴輸高雄王就不行了
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04/11 08:31, 2周前 , 18F
富國錄音
04/11 08:31, 18F
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04/11 08:32, 2周前 , 19F
訊號來了
04/11 08:32, 19F
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04/11 08:36, 2周前 , 20F
卒業
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04/11 08:37, 2周前 , 21F
金島
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04/11 08:38, 2周前 , 22F
現在太貴，我等便宜的買
04/11 08:38, 22F
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04/11 08:38, 2周前 , 23F
鑽石縮小
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04/11 08:39, 2周前 , 24F
99amd
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04/11 08:39, 2周前 , 25F
加碼套牢了救我
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04/11 08:39, 2周前 , 26F
教主995
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04/11 08:41, 2周前 , 27F
教主的成本低不怕
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04/11 08:44, 2周前 , 28F
Amd=崩=卒業預定
04/11 08:44, 28F
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04/11 08:44, 2周前 , 29F
教主之前不都說200？到了啊！你哪知道他賣光沒？
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04/11 08:45, 2周前 , 30F
他又不會貼對帳單，自己不跑，怪誰
04/11 08:45, 30F
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04/11 08:45, 2周前 , 31F
問下教主
04/11 08:45, 31F
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04/11 08:50, 2周前 , 32F
教主說過上三百,AMD越跌越買
04/11 08:50, 32F
噓
04/11 08:50, 2周前 , 33F
慘...連當second source的資格都沒有
04/11 08:50, 33F
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04/11 08:52, 2周前 , 34F
相信蘇媽 年底賺麻
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04/11 08:57, 2周前 , 35F
教主也說抗中保台，人家現在AMD舔對岸了
04/11 08:57, 35F
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04/11 08:57, 2周前 , 36F
你要教主丟臉嗎？
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04/11 09:07, 2周前 , 37F
AMD=被退工商=99AMD
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04/11 09:11, 2周前 , 38F
不給教主面子？
04/11 09:11, 38F
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04/11 09:12, 2周前 , 39F
一下營收超好一下棘手都你們在講
04/11 09:12, 39F
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04/11 09:16, 2周前 , 40F
AMD 不良品
04/11 09:16, 40F
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04/11 09:23, 2周前 , 41F
摸到200後賣在19X 感謝教主
04/11 09:23, 41F
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04/11 09:25, 2周前 , 42F
垃圾股
04/11 09:25, 42F
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04/11 09:48, 2周前 , 43F
卒業預定了
04/11 09:48, 43F
噓
04/11 09:49, 2周前 , 44F
尼這咖就買進訊號
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04/11 09:51, 2周前 , 45F
我沒錢了 都在TSMC...
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04/11 09:51, 2周前 , 46F
已開示
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04/11 09:52, 2周前 , 47F
NVDL/SOXL加油...
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04/11 09:59, 2周前 , 48F
訊號真強
04/11 09:59, 48F
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04/11 10:01, 2周前 , 49F
Nvidia最近也是下行的，但是AMD是溜滑梯…
04/11 10:01, 49F
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04/11 10:06, 2周前 , 50F
AMD看教主就行了
04/11 10:06, 50F
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04/11 10:20, 2周前 , 51F
懂了
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04/11 10:22, 2周前 , 52F
PE太高
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04/11 10:26, 2周前 , 53F
教主之前說4月底財報會開噴 是真的嗎
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04/11 10:26, 2周前 , 54F
救主救我
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04/11 10:28, 2周前 , 55F
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04/11 10:28, 2周前 , 56F
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04/11 10:28, 2周前 , 57F
這咖先前還在喊nvda overbooking
04/11 10:28, 57F
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04/11 10:32, 2周前 , 58F
訊號來了
04/11 10:32, 58F
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04/11 10:36, 2周前 , 59F
幫助鄉民全力做多AMD 小弟功德無量
04/11 10:36, 59F
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04/11 11:02, 2周前 , 60F
訊號來了
04/11 11:02, 60F
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04/11 11:49, 2周前 , 61F
多跌1點 我還想接amd
04/11 11:49, 61F
噓
04/11 12:13, 2周前 , 62F
你的over booking呢?
04/11 12:13, 62F
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04/11 12:20, 2周前 , 63F
感謝冥燈
04/11 12:20, 63F
噓
04/11 12:27, 2周前 , 64F
WF是反指標你不知道嗎？嫩
04/11 12:27, 64F
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04/11 12:32, 2周前 , 65F
教主救我QQ 雖然我奈米戶套著也沒差
04/11 12:32, 65F
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04/11 13:15, 2周前 , 66F
都內線是不是
04/11 13:15, 66F
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04/11 14:01, 2周前 , 67F
180小賣一點 沒賣到200多的 9995
04/11 14:01, 67F
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04/11 14:08, 2周前 , 68F
有興趣可以可以爬一下andy大師之前的文章
04/11 14:08, 68F
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04/11 16:06, 2周前 , 69F
刀客：AMD免費送還是太貴
04/11 16:06, 69F
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04/11 19:27, 2周前 , 70F
但看起來有被砍單 不知道教主怎麼看
04/11 19:27, 70F
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04/12 00:31, 2周前 , 71F
你看NVDL噴爆 NVDA才是正解 哇哈哈哈哈哈
04/12 00:31, 71F
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