USD - AMD: Read Off Nvidia's Earnings

• AMD-competitor NVIDIA cut guidance for the current quarter below analyst estimates due to a revenue shortfall from Russia and China.
• AMD only reported 3 weeks ago and didn't see similar impacts on gaming sales in China.
• The stock isn't priced for the chip company to even match conservative analyst estimates, reducing the risk of a major hit to the stock price.
• AMD continues to trade at only 17.4x our '23 EPS targets despite the superior sector results.

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