“AMD stock pops on potential Amazon superchip deal, CEO bullishness”
June 14, 2023
“…Shares of the semiconductor company popped over 2% in pre-market trading on Wednesday — and were Yahoo Finance’s Top Trending Ticker — on a Reuters report that Amazon’s cloud arm is considering using AMD’s new AI chips… The report comes a day after AMD unveiled high-powered AI chips dubbed the MI300, going up against Nvidia’s own superchips…
Investors sent AMD shares down 3.6% on Tuesday amid some disappointment about the lack of details on pricing for the new chips and launch customers. But Wall Street still came away impressed, and believes AMD will be a key player in the coming AI wave suggested by the likes of Salesforce CEO Marc Benioff to Yahoo Finance this week…
Gerra lifted his 2024 EPS estimate on AMD to $5.50, from $4.09. Consensus estimates are at about $4.13 a share for 2024, according to Yahoo Finance data…”