《大行報告》國泰君安證券首次覆蓋AMD(AMD.US)予「增持」評級 目標價232美元
國泰君安證券發表研究報告,首次覆蓋超微(AMD)(AMD.US),並給予「增持」評級。該行表示,考慮到AMD有望在此次人工智能(AI)發展浪潮中受益,加上其產品競爭力不斷追趕同業英特爾(INTC.US)與英偉達(NVDA.US),預測AI業務收入將不斷提升,綜合兩種估值推算方法給予目標價232美元。
該行目前預測AMD 2024至2026財年營業收入將分別達到291.8億、364.4億及437.9億美元,按年增長29%、25%及20%,對應經調整淨利潤則預測按年增長73%、39%及28%,分別達到74億、103億及131億美元。
國泰君安指出,AMD現時已擁有業內最全面的CPU、GPU、FPGA及DPU數據中心產品組合,可以覆蓋全場景AI數據運算需求,認為目前數據中心業務短期內由AI訓練所推動,但中長期趨勢料將逐漸轉向大語言模型的推理應用,而面對中長期市場需求轉移,相信AMD的全面產品組合可把握更多增長機會。
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