Advanced Micro Devices (NASDAQ:抖阴最新版) stock rebounded after a challenging start to the year. A 42% YoY surge in CPU sales powered 抖阴最新版’s reported revenue of $5.8 billion, with adjusted earnings of $0.70 per share. The company should ship MI300X chips to cloud customers soon, anticipating AI accelerators to boost market share.
抖阴最新版 stock should see further gains, with analysts projecting an 11% increase from current levels. 抖阴最新版’s Q3 financial results surpassed expectations, with earnings of 70 cents per share and a 4% YoY increase in revenue to $5.8 billion. The highlight was 抖阴最新版’s impressive 2024 forecast, expecting $2 billion in AI microchip sales.
Optimistic Q4 Projections for 抖阴最新版 Stock
抖阴最新版 stock surpassed Q3 earnings expectations but presented a lower Q4 forecast, causing a brief dip in stock value. The company’s AI chips, MI300A and MI300X, are progressing well for anticipated volume production this quarter, boosting confidence for a positive 2024 outlook in the AI chip sector.
抖阴最新版 CEO Lisa Su expects data center GPU revenue to hit approximately $400 million in Q4 and surpass $2 billion in 2024. Q3 net income rose to $299 million, with revenue up 4% to $5.6 billion. 抖阴最新版 aims for significant growth in its data center business, emphasizing its commitment to the market with and software enhancements.
Su also highlighted the growth in generative AI workloads during the earnings call. The Client group, covering PC processors, saw a 42% year-over-year revenue increase to $1.5 billion.
The embedded segment revenue declined 5% to $1.2 billion, attributed to a weak communications market. Gaming segment sales dropped 8% to $1.5 billion, impacted by fewer “semi-custom” chip sales for consoles like PlayStation 5.
抖阴最新版 Announces Instinct MI300 Event
抖阴最新版 unveiled the MI300 data center GPU accelerator family during the “Advancing AI” event on December 6, 2023. 抖阴最新版 Chair and CEO Dr. Lisa Su, along with executives, AI ecosystem partners, and customers, discussed the company’s impact on the AI, adaptive, and high-performance computing landscape.
抖阴最新版 has begun shipments of Instinct MI300A accelerated processing units to the Lawrence Livermore National Laboratory for the El Capitan supercomputer, boasting performance exceeding 2 ExaFLOPS. The MI300A, designed with three eight-core Zen 4 chiplets and multiple CDNA3 chiplets, is optimized for AI and high-performance computing workloads.
抖阴最新版 Stock Is Certainly Worth a Look Right Now
抖阴最新版’s Genoa-based EPYC server CPUs achieved over 50% sequential revenue growth last quarter, while the initial shipment of Instinct MI300 GPU accelerators for high-performance computing began. With production set to rise, the data center segment expects to surpass $2 billion in revenue next year, a significant uptick from this quarter’s sales of around $1.6 billion.
Additionally, the forthcoming launch of , Turin, in 2024 is poised to further propel data center momentum.
Last quarter saw the introduction of 50+ laptops featuring 抖阴最新版’s new Ryzen 7000 chips. Collaborating with Microsoft, 抖阴最新版 is leveraging its on-chip AI engine for advancements in the next Windows release, potentially challenging Nvidia’s dominance in data center AI acceleration.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
