Mizuho analyst Vijay Rakesh's channel checks indicate that Intel (INTC) is cutting Cascade Lake pricing again, now to parity with Skylake, which he feels presents a challenge to AMD. He believes that with Skylake processor supply tight, Intel has dropped Cascade Lake pricing to parity with Skylake in some instances, which equates to an incremental 25%-30% discount. Intel is offering software support and aggressive pricing, which could position it to aggressively compete with AMD, Rakesh tells investors in a research note. Further, heading into year-end, the analyst expects U.S. hyperscale to slowdown seasonally with some potential weakness at China hyperscale. In addition, Rakesh raised his price target for Neutral-rated AMD (AMD) to $38 from $36 and for Buy-rated Intel (INTC) to $64 from $60 to reflect the recent expansion of semiconductor multiples.

TD Cowen raised the firm's price target on AMD to $200 from $185 and keeps a Buy rating on the shares. The analyst expect data center strength and "well-known softness elsewhere" when AMD reports Q1 results. The firm sees AMD as generating upwards of $10.00 in earnings per share by 2027, or a nearly 40% annual growth off of 2023. TD increased its MI300 2024 revenue estimate to $4.5B from $4B, saying ramps at several customers will continue to happen more quickly than typical. AMD remains one of its top picks.

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Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

HSBC last night upgraded AMD (AMD) to Buy from Hold with a price target of $225, up from $180. Given AMD's recent share price correction of 15% over the past month, market expectations for the company's MI300 2024 and 2025 revenue have been reset, the analyst tells investors in a research note. However, the firm thinks AMD has enough supply capacity and demand to surpass management's artificial intelligence revenue guidance. AMD's next-generation AI GPU is a more direct competitor to Nvidia (NVDA) GB200 in 2025, the analyst tells investors in a research note. HSBC sees an attractive risk/reward at current share levels.