As of May 2, 2023, Lisa Su, CEO of Advanced Micro Devices (AMD), has announced a significant increase in customer interest in the company’s Instinct MI300 GPU. These GPUs are designed for both AI training and inference of language models at scale. The MI300 is a unique hybrid CPU-GPU accelerator that integrates his CPU, GPU and memory in his data center into one chip. Designed to improve performance and power efficiency for high-performance computing (HPC) and AI applications.
AMD has invested heavily in AI in recent years, which has paid off with increased customer interest in the MI300 GPU. The company has developed a series of chips that can compete with Nvidia’s fastest products. MI300 is expected to be able to train language models more efficiently within weeks compared to months and thousands of GPUs required by other platforms.
AI is sweeping the technology industry, with the share of specialized chips such as GPUs used in data centers expected to grow from less than 3% in 2020 to over 15% by 2026. It holds a leading position in the data center end market, with a focus on GPUs and AI. The company’s MI300 GPUs are expected to drive data center investments in AI training and language models in the near term.
AMD Stock Analysis for May 2, 2023: Earnings Growth, P/E, and Future Forecasts
On May 2, 2023, AMD’s stock price opened at 89.32 and fluctuated between 88.13 and 90.45. The trading volume for the day was 2,697,440 and the market cap was $143.8B. AMD’s revenue growth over the past year was -67.56%, while this year’s revenue growth is -13.30%. The company expects a significant increase in revenue over the next five years, with a projected growth rate of 20.00%. AMD had a P/E ratio of 102.2, a price/sales ratio of 4.31, and a price/book ratio of 2.63. AMD belongs to the electronic technology sector and the semiconductor industry. AMD’s next reporting date is May 3, 2023, with an EPS forecast of $0.56. The company posted annual revenue of $23.6 billion and annual profit of $1.3 billion last year, with a net profit margin of 5.59%.
AMD Stock Forecast: Analysts Predict 5.65% Increase and Buy Consensus
On May 2, 2023, the median target price for Advanced Micro Devices Inc (AMD) stock was $95.00, according to 35 analysts who provide 12-month price forecasts. This represents a +5.65% increase from the final price of $89.92. The consensus among his 41 investment analysts surveyed was to buy AMD stock. This was a rating unchanged since April.
