Mar. 3 at 1:37 AM
$AMD $NVDA $SPY $MSFT $UBS
UBS thinks Microsoft is the 3rd largest customer. UBS's analyst Timothy Acuri reiterated AMD
BUY Rating with
$310 Price Target.
"We emerged more confident in revenue upside for 2027 as the company is now suggesting there could be a third GW-scale customer beyond the deals with OpenAI and META. Microsoft seems to us the most likely. Regarding investor concerns that the warrant structure and 10% equity stakes for META/OpenAI will now become pre-requisites for GW-scale engagement, AMD pushed back aggressively and indicated that it considers these to be unique deals targeted for LLM model builders because they are controlling so much of the ecosystem. AMD also views this structure as accretive longer term and a vehicle to dramatically accelerate its share gains in the broader accelerator market. AMD was very bullish on the CPU business and now sees upside both from units and ASPs. Overall, we emerge confident in our
$310 PT ."
