Citi Research analyst Christopher Danely opened a downside 90-day catalyst watch on shares of Advanced Micro Devices Inc. $(AMD)$ Monday, warning of potential risks to key markets. "We expect downside to estimates driven by the correction in the data center/gaming/embedded markets," which are expected to make up about 84% of sales for the calendar year, he wrote. Danely has a neutral rating on AMD's stock and said he sees possible downside to consensus expectations amid "strong expectations driven by the MI 300 chip ramp." Meanwhile, the company's market-share gains in servers could be offset by a general data-center slowdown. AMD shares were off 1.6% shortly after Monday's open.
-Emily Bary
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July 17, 2023 09:39 ET (13:39 GMT)
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