Citi Expects Intel, AMD to Beat Q4 Guidance

By Benzinga
December 15, 2021 Updated: December 15, 2021

Citi analyst Christopher Danely noted that notebook shipments were up 10 percent month-over-month in November due to improved enterprise demand, beating the firm’s forecast for a 6 percent month-over-month increase.

Based on the better than expected notebooks data, overall PC strength, and demand for servers, Danely said he expects both Intel Corpand Advanced Micro Devices Inc. to beat Q4 guidance.

Danely maintains Neutral ratings on both Intel and AMD, however, as he expects downside to consensus when PC demand reverts to the mean some time in the second half of 2022.

Intel is the world’s largest chipmaker which designs and manufactures microprocessors for the global personal computer and data center markets. Intel recently invested $7 billion in a Malaysia chip plant.

AMD designs microprocessors for the computer and consumer electronics industries. Most of the firm’s sales are in the personal computer and data center markets via CPUs and GPUs. Additionally, the firm supplies the chips found in major game consoles like the Sony Group Corp. PlayStation and Microsoft Corp. Xbox.

By Anusuya Lahiri

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