AMD stock declined 9% after reporting weaker sales in its data center segment, critical for competing in the high-powered AI chip market against Nvidia. Although Q4 earnings surpassed expectations, with $7.66 billion in revenue, analysts remain cautious. Nvidia's stock rose thanks to Alphabet's planned investment in AI. AMD's CEO forecasted strong growth for 2025, labeling 2024 as transformative as the company seeks to bolster its presence in the lucrative AI sector. The price target was lowered by Truist Securities amidst overall market volatility.
"On its earnings call with investors, CEO Lisa T. Su told investors the company sees 'strong double-digit percentage revenue and EPS growth' for 2025, calling 2024 'a transformative year for AMD..."
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