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Top related persons:
Lisa Su - 1 Raymond James - 1 Jeffries - 1 CNBC's Kif Leswing - 1 Michael Bloom - 1
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San Francisco , California U.S Q4E CY24E 1Q24
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Devices Inc - 1 AMD - 1 Revenue - 1 Wall Street - 1 Nvidia - 1 Bank of America - 1 ~$ - 1

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☆ AMD stock jumps more than 8% on strong 2024 AI chip projections
  + stars: | 2023-11-01 | by ( Jake Piazza | In | ) www.cnbc.com   time to read: +2 min
AMD stock spiked more than 8% Wednesday, a day after the company beat top and bottom-line earnings estimates and gave a promising 2024 forecast for its AI chip business. The chipmaker posted an earnings per share of 70 cents, adjusted, narrowly beating the LSEG, formerly Refinitiv, estimate of 68 cents per share. Wall Street analysts like AMD's prospects in the AI market, which is currently dominated by Nvidia . Still, AMD is one of only a handful of companies capable of making high-powered graphics processing units (GPUs) that power AI models. Analysts at Raymond James lowered their price target from $145 to $125 but kept AMD as a "strong buy" largely due to its AI business.
Persons: Lisa Su, Raymond James, Jeffries, CNBC's Kif Leswing, Michael Bloom Organizations: Devices Inc, AMD, Revenue, Wall Street, Nvidia, Bank of America Locations: San Francisco , California, U.S, Q4E, CY24E, 1Q24
☆ Here are Wednesday's biggest analyst calls: Apple, Tesla, Amazon, Blackstone, Carvana, Netflix & more
  + stars: | 2022-11-30 | by ( Michael Bloom | ) www.cnbc.com   time to read: +6 min
Here are Wednesday's biggest calls on Wall Street: Morgan Stanley adds Blackstone to the financials' finest list Morgan Stanley added the investment bank and private equity firm to its top pick list and said it sees a compelling entry point. Bank of America downgrades Carvana to neutral from buy Bank of America said it has "liquidity and cash burn concerns." "We are reinstating coverage of XPO with a Neutral rating following a period of restriction. Bank of America reiterates Amazon as buy Bank of America attended Amazon's AWS Re:Invent conference and said Amazon Web Services ecosystem "remains strong." Morgan Stanley reiterates Lowe's as overweight Morgan Stanley said the home improvement retailer is in a "strong fundamental position."
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