TSM - Advanced Micro Devices surges as Wedbush said Q4 results showed 'zero red flags'

Advanced Micro Devices (NASDAQ:AMD) posted fourth-quarter results last night that handily beat expectations and when coupled with guidance and management commentary, show a company that provided "zero red flags" for investors, Wedbush Securities said. Analyst Matt Bryson, who has an outperform rating and $165 price target on the semiconductor company, wrote in a note to investors that it has become "cliché" to talk about how AMD beat and raised estimates, but the company did so again, as it benefited from most of its segments, including CPUs, GPUs and servers. "We’d note that AMD’s strong results and constructive outlook did not validate any concerns that a more competitive Intel will weigh on AMD’s ability to gain share (certainly not in Q1 in light of the two companies’ very different near-term outlooks with AMD’s 2022 guide also suggesting management does not see a recovering Intel as impacting AMD’s ability to  continue to take

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Advanced Micro Devices surges as Wedbush said Q4 results showed 'zero red flags'