Wolfe Research Reiterates Outperform on AMD, $450 Price Target

Wolfe Research analyst Chris Caso reiterated an Outperform rating and $450.00 price target on AMD (NASDAQ: AMD).

“Advancing AI & future GPU products.

Management noted that they will talk more about the MI500 series at their July Advancing AI event [link]; they expect the deployment MI-600 to be 12-15 months after the MI500 series launch.

AMD expects pricing to go higher as rack performance moves up a multiple every successive generation.

Even though new racks will have higher power draw, AMD expects the overall $ / GW to expand in future generations. AMD’s CPU opportunity is additive to this content expansion.”

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