Citi says: stay course on AMD & INTC DEC shipments top…..
Citi stays course on AMD, Intel as December notebook shipments top expectations
Jan 13, 2025 11:37 AM ET | Advanced Micro Devices, Inc. (AMD) | Chris Ciaccia, SA News Editor
Investment firm Citi said it is staying the course on AMD (NASDAQ:AMD) and Intel (NASDAQ:INTC) after December notebook shipments topped the firm's expectations.
"December notebook shipments increased 8% [month-over-month], ahead of our expectations of up 4% [month-over-month], driven by new product launches and pull in demand ahead of Chinese New Year and potential tariffs," analyst Christopher Danely wrote in a note to clients.
Danely, who kept his Buy rating on AMD and his Neutral rating on Intel after the figures, noted that although notebook shipments fell 7% quarter-over-quarter, they were above his expectations of an 8% decline, though below the normal seasonal figure of a 2% gain.
Notebook shipments are expected to decrease 10% sequentially in the first-quarter of 2025, above the normal 14% decline, which correlates with the firm's view of "sluggish" PC demand, Danely added.