Bank of America Weighs in on AMD Stock Amid Post-Earnings Slump - TipRanks.com

Advanced Micro Devices (AMD) surpassed Q1 expectations with revenue of $5.47 billion and adjusted EPS of $0.62, slightly beating consensus estimates. Despite these positives and a strong performance in the data center segment, AMD shares fell by 9% due to investor dissatisfaction with the modest revenue forecast from its MI300 accelerators.

Bank of America analyst Vivek Arya believes AMD's conservative $4 billion revenue forecast for the MI300 could be a strategic lowball, allowing room for growth in a rapidly expanding accelerator market. Arya maintains a positive outlook on AMD, adjusting his price target to $185 but still projecting a significant upside. The overall consensus among analysts remains a Strong Buy for AMD stock.