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Advanced Micro Devices, Inc. (AMD)
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CFRA MAINTAINS BUY OPINION ON SHARES OF ADVANCED MICRO DEVICES
We up our 12-month target to $140 from $110 on a peer-premium P/E of 36.8x our'23 EPS view, which we start at $3.80, reflecting above industry growth. Weraise our '21 EPS estimate to $2.62 from $2.34 and '22's to $3.28 from $2.87.AMD posts Q3 EPS of $0.75 vs. $0.32, beating the $0.66 consensus. Sales rose54%, better than expected, on higher demand in Computing and Graphics (up 44%)as well as Enterprise, Embedded, and Semi-Custom (up 69%). Gross margin expanded400 basis points to 48%, wider than we thought, aided by better product mix. Webelieve that AMD is taking considerable share in the data center (revenue morethan doubled YoY), driven by greater adoption of its 3rd Gen EPYC processors bycloud service providers and higher enterprise spending. We believe AMD isnavigating current supply constraints well, while we are optimistic aboutprospects for its next generation CPUs and GPUs. We positively view AMD'simproving financial position, with net cash of $3.3B and FCF of $764M ($265M ayear ago).
AMD CEO says making good progress on Xilinx deal, sees close by year end
Oct. 26, 2021 7:49 PM ETXilinx, Inc. (XLNX), AMDBy: Joshua Fineman,
Advanced Micro Devices (NASDAQ:AMD) CEO Lisa Su said the chipmaker is making "good progress" on the regulator front on its planned $35B purchase of Xilinx Inc. (NASDAQ:XLNX). Xilinx gained 1.4% in after hours trading.
AMD's (AMD) deal for Xilinx is on track to close by the end of year, Su said on the company's Q3 earnings conference call.
AMD is still awaiting approval from China but has received antitrust clearance in the U.S. and Europe. Last month, AMD was said to have made progress in China with large third parties ready to bless the transaction.
Earlier, AMD tops forecasts as data-center sales lead earnings results. AMD fell 0.6% in after hours trading.
Xilinx is scheduled to report results tomorrow after the close.
Read Now: Inefficiency Of AMD-Xilinx Merger Arbitrage Provides A High ROI Opportunity
I just finished power watching thru both Fast Money and Mad Money. I mentioned in a post below what Cramer said about AMD, just a sentence, no more. Fast Money I was sure would show the earnings and talk about the call but nope, they didn't even mention it from what I could tell. They did talk about NVDA and put its stock up on the screen but not AMD! Guy Adami did mention AMD in passing when they were talking about NVDA's up move today but almost nothing. I am shocked AMD gets such little respect from many of these people, but in all honesty why would you announce your earnings on the same day as Microsoft and Google???
If the Xilinx deal is completed, and AMD gets a massive market cap, can really throw its weight around and call the shots, I think then they will be unable to ignore it.. Lisa has said several times that she needs the SCALE that Xilinx can provide, until then, I guess it is what it is..
Who remembers when AMD was always under INTC shadow. Intel would make rebates and artificial agreements with Dell and others to keep AMD out despite AMD having better processors.
TOM = Low Life Shill
BoA just upgraded AMD from $135 to $150!!!
We are rocket up tomorrow baby!!!
Advanced Micro Devices, Inc: Solid execution/roadmap, well-positioned for share gains, raise est./PO to $150
10/27/2021 2:04 AM
Strong results/raised outlook despite supply constraints, raise ests. and PO to $150; M&A close in Q4 next potential catalyst. Likes: data center now 25% of sales with enterprise pipeline +2x YoY; TTM FCF mgn 20% highest in 20 yrs, $750mn repurchased. Risks: aggressive INTC pricing tactics, though we see limited risk; PC comps tough; rising foundry costs limit GM upside. Analysts:
Cramer- AMD, "Fine numbers from AMD, some feel they knocked it out of the park!" ;-)
"For the fourth quarter 2021, AMD expects revenue to be approximately $4.5 billion, plus or minus $100 million, an increase of approximately 39 percent year-over-year and approximately 4 percent quarter-over-quarter. The year-over-year increase is expected to be driven by growth across all businesses. The quarter-over-quarter increase is expected to be driven by higher server and semi-custom revenue. AMD expects non-GAAP gross margin to be approximately 49.5 percent in the fourth quarter 2021.
For the full year 2021, AMD now expects revenue to grow approximately 65 percent driven by growth across all businesses, up from prior guidance of 60 percent growth. AMD expects non-GAAP gross margin to be approximately 48 percent for the full year 2021."
All these small time traders and shorts will lose their money tomorrow. Upgrades are coming!
KEY NOTE from LISA : "We are still underrepresented across product portfolios". That means with their given strong products, and new line up, AMD will continue to gain market share.
"For the full year 2021, AMD now expects revenue to grow approximately 65 percent driven by growth across all
businesses, up from prior guidance of 60 percent growth"
Nice topline, nice outlook on margins. No mention of Xilinx acquisition or Exynos production/revenues... as expected. Let's see if Lisa has any comments about those situations in the conference call. It will also be important to hear about the ramp on server products. New guidance is for 65% YoY growth for the full year 2021. Overall a solid ER--very much like the last 3. Not sure what the stock will do tomorrow, but long term we are still tracking for rapid growth in the business and the SP. GLTA.
AMD Delivers Beat-And-Raise Third-Quarter Report
The Santa Clara, Calif.-based company earned an adjusted 73 cents a share on sales of $4.31 billion in the September quarter. Analysts had expected AMD earnings of 66 cents a share on sales of $4.11 billion, according to FactSet. In the year-earlier period, AMD earnings were 41 cents a share on sales of $2.8 billion.
third quarter of 2021 of $4.3 billion, operating income of $948 million, net income of $923 million and diluted earnings per share of $0.75. On a non-GAAP* basis, operating income was $1.1 billion, net income was $893 million and diluted earnings per share were $0.73.
Only about 400K shares were traded the entire Conference call which means Nothing if you see Red.
After Market Digest the Great numbers, I believe it will go up tomorrow on Volume. There is also a tailwind coming in the coming Accelerated Data Center Premier Event 8th November. These great PRODUCTS will supplement the great NUMBERS we had today!
For the fourth quarter, the company expects revenue to be between $4.4 billion and $4.6 billion. The lower end of that range was still ahead of consensus estimates at $4.25 billion, according to FactSet. The company expects growth in all its businesses to close out the year, with higher server and semi-custom revenue driving quarter-over-quarter revenue growth of 4%.
With NVDA sitting at a PE of 88 compared to 44 for AMD, it is a no brainer that, given the explosive growth, earnings and revenue, AMD is extremely cheap. Extrapolated to using NVDA as the yardstick, this should be close to a value of 250.00 with great leadership, recent alliances with the behemoths like Microsoft, Google etc. Long Live Longs (L3) and Kris et al. The journey to Andromeda has hopefully just started with best days around the corner....,
‘Winner takes it all’ especially in high tech market!
Tech industry lends itself to strong economic growth. The bigger a tech business gets, the more cost-effective it becomes. Once a brand established itself, it eats up the majority of opportunities.
AMD could be in that situation:
- All new data centers are using EPYC chips
- RDNA 2 starts dominating high-end GPUs (cloud, gaming, smart phone, AI, auto-dring..)
- 30 times energy efficiency improvement by 2015
- Many others..
AMD could be 1 of the trillion-dollar market cap hightech leaders in a few years (by 2015, PPS>$1000?)
One step at a time! Let's see what will be today's report say?
Good luck to everybody!
So as we surmised Dr Lisa Su is being strategic announcing EXCELLENT numbers at EC first, followed by the merger closing. The market absorbs the great numbers. Then the market absorbs the merger successful completion.
It’s a fantastic 1, 2 punch that will be of greater impact increasing the PPS.
AMD is up 45% since July 16th, so I am very happy with this stocks performance.
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