AMD Poised for Growth Rebound in 2023 on AI Chip Demand and Legacy Business Recovery
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AMD is well-positioned to benefit from massive growth in the AI industry, estimated to reach $400 billion by 2027. With its high-quality GPUs, AMD can power the AI revolution.
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AMD should see growth recovery in legacy businesses like CPUs and graphics cards as economic conditions improve in 2023 and beyond.
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Total revenues dropped 8% in the first 3 quarters of 2022 but showed signs of recovery in Q4. Further sales and EPS growth is expected in 2023 and future years.
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Consensus 2023 revenue estimate is $26.5 billion but could reach $28-30 billion on stronger than expected AI chip demand.
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EPS dropped 25% in 2022 but could rebound to record levels in 2023 and continue growing 40-50% annually behind AI and legacy business strength.