AMD Downgraded–Wolfe Slashes AI GPU Forecast, but MI350 Accelerator Sparks Hope

Advanced Micro Devices (NASDAQ:AMD) sees a downgrade from Wolfe Research, which warns of slower data center GPU revenue growth than expected. Shares tick up slightly in premarket trading.

Wolfe analyst Chris Caso lowers AMD’s rating to Peer Perform from Outperform and removes his $210 price target. He cites original design manufacturer (ODM) build plans that point to modest quarterly growth in 2025. Wolfe now forecasts $1.5 billion to $2 billion in data center GPU revenue for Q4 2024,…