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《大行》中金升AMD(AMD.US)目標價38%至166美元 維持「中性」評級
阿思達克 08-11 13:20
中金髮表報告指出,AMD(AMD.US)第二季度財報收入76.85億美元,按年增長32%,按季增長3%,略高於該行預期;非GAAP淨利潤7.81億美元,每股盈利0.48美元,按年下降31%,按季下降50%,略低於預期,主要因MI308產品受出口管制影響產生庫存撥備開支,以及研發與銷售費用增加。考慮到MI355產品需求優於預期,加之MI400系列性能提升將推動2026年需求,該行上調超微2025及2026年調整後淨利潤預測9%及7%,分別至65.5億美元和97.5億美元。 中金錶示,超微當前股價對應2025及2026年預測市盈率分別爲40.6倍和27.3倍。雖然AI業務收入貢獻有望持續增長,該行將目標價上調38.3%至166美元,對應2025及2026年市盈率分別爲41.3倍和27.7倍,但潛在上行空間僅2.0%,因此維持「中性」評級。
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