What to Expect From Advanced Micro Devices’ Upcoming Q4 Results?

Deutsche Bank provided its outlook on Advanced Micro Devices, Inc. (NASDAQ:AMD) ahead of the company’s upcoming Q4 results, scheduled on Jan 31.

The analysts expect an in-line report/guide as new product launches in Client and Data Center help to offset continued inventory digestion in PCs and softening macro. Regarding the full-year guide, the analysts expect the company to set a relatively conservative bar for revenue growth in 2023, as continued share gains in Data Center will be offset by macro softening elsewhere (Client/Embedded/Gaming likely to be soft, in addition to increasing concerns of a softening Data Center TAM).

The company’s shares gained more than 9% yesterday after Barclays upgraded it to Overweight from Equalweight and increased its price target to $85.00 from $70.00.