Latest Analyst Views on Coatue’s Favorite 33 AI Stocks

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10. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Number of Hedge Fund Holders: 96

Truist recently lowered the price target on Advanced Micro Devices, Inc. (NASDAQ:AMD) to $111 from $130 and kept a Hold rating on the shares. AMD operates as a semiconductor manufacturer. In an investor note, the analyst noted that the company’s Q1 result was good overall, but the outlook included several complicating factors like a reduction in Q2-Q3 Datacenter Accelerator revenue from exiting the China market and an inventory write-down in Q2. Truist added that it lacked conviction in AMD’s ability to ramp MI350, MI400, and beyond, in a way that would be truly competitive.

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