AMD Stock (NASDAQ:AMD)
Investment company Citi has noticed that the mood is a “mixed bag” for the industry as a whole, with the most optimistic sentiment around AMD (NASDAQ:AMD), Nvidia (NASDAQ:NVDA), and semiconductor capital equipment businesses as first-quarter earnings season approaches.
An analyst by the name of Christopher Danely said that even though the personal computer market seems to have “bottomed” and that the market for automobiles is “solid,” other sectors, such as the data center market, the wireless market, and the industrial end market, are still in a state of weakness.
In an investor letter, Danely stated that “our checks indicate visibility for [the second half of 2023] remains limited” and that “many companies are guiding for normal to above-normal seasonality in [the second half of 2023.”
During the middle of the trading day, AMD stock battled and fell by 3%, while those of Intel (NASDAQ:INTC) and Nvidia showed minor changes.
However, the latest statistics on laptop sales in the first quarter should be auger for Intel, while AMD benefits from favorable investor sentiment. Danely also said that AMD and Intel might see downward pressure in the data center market.
On the other hand, investors are most pessimistic about Qualcomm and Micron, partly because of the slow performance of the wireless and memory businesses, respectively.
The company continues to propose that investors purchase shares of Micron, AMD, ON Semiconductor, and GlobalFoundries after the current dip is over “as they should offer the most upside.” Analog Devices (ADI) is also the company’s top selection in the sector.
Bank of America said a week ago that it favors AMD stock over Intel because the former is more likely to gain from its purchase of Xilinx in the industrial and auto industries.
Featured Image: Freepik
Author Shariq Khan 
