Major Bank Ratings | Goldman Sachs: Maintains "Neutral" Rating on AMD, Data Center Business Expected to Maintain Strong Growth Momentum This Year

Glonghui, February 5th｜Goldman Sachs released a research report stating that, driven by increased server market share and mass production of the MI400 series products, AMD's data center business will continue to maintain solid growth momentum this year. However, due to the group's significant investment in software and systems for AI infrastructure construction, the report believes its short-term operating leverage is limited. Goldman Sachs maintains a "Neutral" rating on the stock with a target price of $210. If Goldman Sachs gains greater confidence in revenue sources and execution timelines in the coming quarters, it may consider adopting a more positive outlook. The bank also lowered its average earnings per share forecast for the group by 4% for 2026 to 2028, mainly reflecting higher-than-expected revenue but also higher operating expenses compared to previous assumptions.