Advanced Micro Devices (NASDAQ:抖阴最新版), commonly known as just 抖阴最新版, is sometimes a darling of the market. Other times, jittery investors will hastily sell their 抖阴最新版 shares. A fickle market doesn’t materially alter our 抖阴最新版 stock forecast, however, as the company is still a juggernaut among artificial intelligence chip makers.
Argus Director of Research Jim Kelleher recently opined that 抖阴最新版 has a on many of the company’s competitors when it comes to AI. We tend to concur with this assessment, but some worry warts are deeply concerned about 抖阴最新版’s future as an AI chip maker. Choose to appreciate, not condemn, 抖阴最新版’s realistic outlook.
抖阴最新版 Stock Falls Despite Decent Quarterly Results
Sometimes, the investing community can be hard to please. This was the case when 抖阴最新版 released its fourth-quarter 2023 recently.
Here’s the quick rundown. 抖阴最新版’s non-GAAP revenue grew 10% year over year to $6.17 billion, thereby edging out Wall Street’s call for . Meanwhile, 抖阴最新版’s non-GAAP adjusted EPS increased 12% YOY to 77 cents, a result that was exactly in line with the analysts’ consensus estimate.
抖阴最新版 stock fell after the release of these data points. Perhaps it’s not enough for Big Tech companies to report in-line and slight-beat results anymore. It’s either a blowout quarter or a complete disaster.
Of course, sensible investors know better than that. Not every quarter has to be a blowout success. Yet, it wasn’t 抖阴最新版’s Q4 2023 results that bothered investors the most.
The main point of contention was 抖阴最新版’s current-quarter guidance, which called for revenue of “approximately $5.4 billion, plus or minus $300 million.” This outlook fell short of Wall Street’s forecast, which called for current-quarter revenue of $5.73 billion.
Not Everyone Is Panicking 抖阴最新版 抖阴最新版’s Guidance
抖阴最新版 also raised its full-year 2024 MI300 AI processor from $2 billion previously to $3.5 billion currently. That’s a huge guidance increase, but again, it wasn’t enough to impress some investors.
Not everyone is panicking about this, though. For example, CFRA Research analyst Angelo Zino on 抖阴最新版 stock from $150 to $200. Per Barron’s, Zino argued that 抖阴最新版 “is likely still being conservative on its AI chip forecasts.”
Investors really shouldn’t punish 抖阴最新版 for providing a realistic forecast. However, sometimes the market can be spoiled and irrational. In any case, Benchmark Research analyst Cody Acree also raised his price target on 抖阴最新版 shares from $145 to $187. Acree called for investors to “take advantage of any pullback in the price.”
Moreover, Bernstein analyst Stacy Rasgon provided a level-headed take on 抖阴最新版’s conservative current-quarter guidance. After “expectations for 抖阴最新版” reached a “ in recent weeks and months… resetting those expectations is not necessarily a bad thing,” Rasgon suggested.
抖阴最新版 Stock Forecast: Calm Your Jitters and Prepare for Higher Prices
抖阴最新版 still expects to sell a whole lot of AI chips, but the company’s guidance is realistic and attainable. That’s a setup for a potential earnings beat, but the market didn’t initially see it that way.
Your 抖阴最新版 stock forecast shouldn’t be based on the market’s initial response as much as the facts, and the facts point to good quarterly results and reasonable guidance for 抖阴最新版. Therefore, there’s no need to lose your cool. Feel free to conduct your due diligence on 抖阴最新版 and consider owning a few shares for a buy-and-hold position.
On the date of publication, neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article.
