35 AI News You Should Not Miss

Page 26 of 35

10. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Number of Hedge Fund Holders: 108

Advanced Micro Devices, Inc. (NASDAQ:AMD) operates as a semiconductor manufacturer. Investment advisory Citi recently penned a research note on the semiconductor industry, reiterating a Buy rating on AMD stock. In the note, Citi analyst Christopher Danely raised C24 semi sales forecast from up 14% year-on-year to up 17% year-on-year, or $616.6 billion. The analyst further forecasted units ex-discretes to be up 1% year-on-year and ASPs to be up 18% year-on-year. Danley noted that much of the August strength in the semi space was driven by dynamic random access memory, which was above seasonal. In total, August sales of $56.2 billion were above estimates of $51.4 billion, and sales were up 15.4% month-over-month.

Page 26 of 35