AMD AI Revenue Could Hit $8 Billion in 2022, Analyst Predicts Despite Recent Guidance Increase
• AMD recently raised its AI revenue guidance to $3.5B for 2022, up from $2B, but Citi analyst believes AMD is still underestimating and could generate $5B-$8B • Citi analyst says signs like AMD CEO's confidence in exceeding $3.5B guidance indicate upside potential • Microsoft and Meta appear to be largest MI300 customers, with ASPs around $10K and $15K+ respectively • AMD shares sold off Wednesday despite multiple ways to boost margins, per Citi analyst • Risks include PC replenishment being over and Intel catching up to TSMC in manufacturing