Advanced Micro Devices未能清除第二季度的收益栏分析师。在芯片制造商报告调整后的每股48美分的调整收益后，AMD股票在周三的前交易中降低了6％，缺少LSEG投票的每股49美分分析师预测。首席执行官丽莎·苏（Lisa Su）在与分析师的电话中说：“随着美国出口限制有效地消除了对中国的MI308销售，AI业务收入逐年下降，我们开始过渡到下一代。”但是，尽管该公司的收益未达到目标，但AMD的76.9亿美元总收入超过了预期的74.2亿美元。净收入也从去年同期增加。总体而言，大多数分析师都维持对股票的评级，尽管有些分析师确实提高了其价格目标。这是华尔街一些最大商店的分析师不得不在报告中说的。伯恩斯坦重申了市场绩效评级和140美元的目标目标分析师Stacy Rasgon的目标，这意味着从周二的收盘价174.31美元的收盘价开始约为20％。 “ AMD的第二季度结果乍一看（76.85亿美元/$ 0.48 vs vs vs Street $ 74.28亿美元/$ 0.49），尽管节拍完全受游戏的驱动，并且在客户端的范围内略微错过了数据中心的略微错过，但对数据中心的汇总结果大致比预期的是，比预期的是，比预期的是，比预期的是，相比，相比，与预期相比，越来越多。 OPEX…总体上的印刷品并不可怕；高盛（Goldman Sachs）以中性评级为基础，将价格目标从140美元的新预测提高到150美元，低于AMD目前的估值14％。 “我们对公司在短期内提高PC和企业服务器市场上大幅度的市场份额增长的能力具有建设性；但是，随着时间的推移，我们对公司在数据中心GPU中推动大规模扩展的能力更加谨慎，并且认为运营杠杆可能会受到公司的大量OPEX的阻碍，我们认为公司可以为其软件和系统努力提供支持的数据。” Deutsche Bank maintains hold rating and lifts price target to $150 per share from $130 “Overall, we remain impressed with AMD's execution across its array of product lines, expecting solid growth to continue in CPUs and likely accelerate in DC GPUs. However, even with these growth drivers reflected in our model (CY25E EPS ~unchanged, CY26E ~ +10%), we see EPS power in the ~$6-7范围在很大程度上反映在当前估值中（〜25-30x p/e）。”摩根士丹利（Morgan Stanley）保持同等权重，将价格目标降低至168美元，从摩根士丹利（Morgan Stanley）的$ 185修订的预测呼吁4％的下跌。 “通过中国的恢复时间，各个细分市场的季度比预期的要模糊。GPU缺乏强大的近期上升空间可能需要股票继续保持其保费，但MI400不变，作为2025年的乐观源，以及该股票的主要价值驱动力。”摩根大通将中立的评级重申，并将目标价从120美元起至180美元，而银行的新价格目标比周二关闭的AMD股票高约3％。 “AMD is improving its competitiveness across CPU and GPU products with Ryzen, EPYC, and Radeon Vega platforms and is on track to improve its market share and drive meaningful revenue growth in the near term. Long term, we believe share gains are less certain. AMD will have to invest heavily in operating expense (especially R & D) in order to keep pace with the market leaders, potentially limiting operating leverage. AMD is executing well toward its目标财务模型，但由于股票似乎几乎完全重视，我们仍然保持中立。”富国银行（Wells Fargo）以超重评级为代表，重申$ 185的目标目标分析师亚伦·拉克斯（Aaron Rakers）的预测比AMD周二的收盘价高出6％。 “查看2q25结果 + 3q25为正；请参阅越来越多的信心实现2H25 MI355X坡道，并注意3Q25指南不包括任何MI308X贡献。”巴克莱维持超重评级，将价格目标从130美元提高到200美元，该银行修订后的预测意味着提前15％。 “MI-series moves to ~$2.3B run rate exiting the CY creating a clear path to +$10B in revenue in CY26, which excludes future contributions from China. Client is also showing leverage with ASPs up 42% Y/Y in June and expectations for continued share gains. The company acknowledged Client pull-ins in their prior guide for a flat 2H but is revising expectations for growth in Q3 and a flat Q4 off a higher base. There are multiple ways to随着客户和DC都大步向前，以这个名字赢得了26名。” Bank of America keeps buy rating, $200 price target “AMD continues to execute on its AI GPU pipeline, with the MI355X (Blackwell-compete) on track to volume ramp in 2H at multiple customers and the MI400 Series (Rubin-compete) and its Helios rack system also on track for 2026 launch. AMD now expects ~$1.7bn in Q3 GPU sales even without ~$800mn of lost China收入表明，总体上约有5亿美元的外观，不包括$ 20亿美元的前期共识。瑞银重申购买评级和每股210美元的价格目标，银行的预测对应于20％的上升空间。 “AMD beat (on revenue) and guided above, but only to about where investor expectations were into the print. The bear would say that the beat was largely gaming-driven and while data center GPU is seeing a strong inflection in 2H, this was already baked into expectations and AMD did not raise the full year outlook for data center GPU despite all of the hyperscaler capex increases. In the very near-term, this may carry the day, but we think the path企业旅行以及最终的股票旅行仍然朝着积极的方向发展。”
（Tagstotranslate）高级微设备公司（T）股市（T）投资策略（T）商业新闻
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