2026년 2월 7일 · Unknown · financial · 출처 Yahoo Finance
While Advanced Micro Devices (AMD) stock falls in spite of topping fourth quarter estimates and revenue guidance forecasts, Benchmark Company managing director and senior semiconductor research analyst Cody Acre discusses how AMD is positioned to compete with rival chipmakers like Nvidia (NVDA) and Broadcom (AVGO)
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Video Transcript
00:00 Speaker A
Um, how well positioned is Lisa Su's company here with those new products on the way?
00:04 Speaker B
I think they're very well positioned. I think in the back half of the year, we'll see the first real viable competition uh with Nvidia's uh Blackwell platform. Uh now this is still not behind it's still a a generation behind uh Nvidia's most advanced systems, but it's the first viable competitor uh for a rack system in the industry. And uh and AMD's um uh uh products are likely to test Nvidia's market share at a a more price sensitive uh entry point.
00:39 Speaker A
What about other competition, Cody? You know, you think about uh AMD's uh own customers. You think about the hyperscaler scalers, the big cloud giants, the Microsofts, the Amazons. What kind of competition could that pose for AMD long-term?
00:55 Speaker B
Yeah, I think it's it's a valid argument. Uh, Broadcom is the leader in the ASIC industry as they're working with the many of the hyperscalers. Um, you're seeing really all of the hyperscalers invest in their own custom ASICs for a portion of their uh really their workloads. it's it's more of an inference game uh for ASICs. Um, and AMD and Nvidia are going to have their place in the industry with high-performance GPUs.
1:24 Speaker B
I think there's room for both in a capacity constrained data center environment. Um, but it is an area that uh we're watching as as uh the ASIC, the like you said, AMD's customers are motivated to use their own internal silicon.
1:44 Speaker A
Cody, uh to your very good point, listen, expectations here were high. I mean, heading into this print, this stock had been a rocket ship, right? It was up more than 100% over the past 12 months. Just a remarkable run.
2:00 Speaker A
I know you got a buy on the name, Cody. I'm sure you get questions though about valuation. You still argue, listen, it's attractive at these levels.
2:10 Speaker B
Yeah, I do. I think that as we ramp through 26 and they look at success of the launch of their Helios platform, and we start to see real customer adoption. Uh remember they've got Oracle, they've got open AI commitments. Uh they have uh customers that are on board and are committed to using AMD for the very uh really for the the early generations of of uh their rack scale system. And so, um I think as the market starts to see the fruition and the evidence of these years of work that they've been putting in to become an Nvidia competitor, uh starts to play out through 26, uh the stock will respond nicely.
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