2 August 2023
If you are covering AMD’s latest results, please see the following comment from Ben Barringer, equity research analyst at Quilter Cheviot:
"Despite a challenging PC market and a data center market in the throes of a major AI shift, AMD has demonstrated a considerable degree of resilience in its recent performance. Though the revenues dipped by 18%, the trends are promising when viewed against markedly weak PC revenues, where their sales plummeted by 54%.
"However, there are signs that the PC market has bottomed out and is on the path to recovery. In the rapidly evolving data center market, AMD is aggressively rolling out new products to capture a larger market share. One such product to watch is the eagerly anticipated MI 300, which is touted to compete against Nvidia's highest-end GPUs.
"While the exact sales projections for the MI 300 remain a matter of speculation, the product is set to go into production in Q4. This move could potentially trigger a robust Q4 performance for AMD. Therefore, despite the current downturn, AMD is strategically positioning itself to leverage the market recovery and the growing AI-based data center market."
