Is the world moving towards a global recession? That looks like a real possibility and one Wall Street analyst is already convinced that is the case. But along with believing a global recession is around the corner, Northland’s Gus Richard also thinks that, in general, semiconductor companies' estimates are “too high.” Now the 5-star analyst has been making some tweaks to his model for one of the segment’s giants. On the one hand, to account for a global recession, Richard has cut $2.8 billion out of his CY23 revenue forecast for Advanced Micro Devices (AMD). There are lowered estimates for PC CPUs, GPUs, Xilinx, and gaming consoles.
https://www.tipranks.com/news/article/headwinds-to-persist-for-amd-stock-but-the-stock-is-too-cheap-to-ignore-says-analyst?utm_source=advfn.com&utm_medium=referral
Advanced Micro Devices (NASDAQ:AMD)
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