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Advanced Micro Devices, Inc. Message Board

  • nusaiba nusaiba Nov 4, 2013 3:03 PM Flag

    Wedbush upgraded AMD (NYSE: AMD) from Neutral to Outperform with a price target of $5.00 (from $4.50). Analyst Betsy Van Hees thinks launch of new gaming consoles will provide a tailwind.

    Wedbush upgraded AMD (NYSE: AMD) from Neutral to Outperform with a price target of $5.00 (from $4.50). Analyst Betsy Van Hees thinks launch of new gaming consoles will provide a tailwind.

    "We believe in the near-term AMD will benefit from the ramp of gaming consoles and a modest lift from 2H seasonality and longer-term is well positioned to gain market share in servers with its dual architecture strategy. We believe AMD is back on track to deliver solid Q/Q and Y/Y earnings and revenue growth and recommend investors with a higher risk/reward tolerance to buy the stock," said Hees.

    "Based upon our bottoms up units and ASP analysis, we are modeling revenue shipments to consoles in Q4 to be about 30+% to $346MM . We are modeling revenue from console shipments for full year 2013 at about $691MM accounting for roughly 10+% of overall revenue increasing to about $1.41B in 2014 and accounting for about 20+% of AMD's overall revenue," added the analyst.

    Wedbush sees Q4 pro forma EPS estimate of $0.06, up from $0.02, on revenue of $1,540 million, up from $1,514 million

 
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