Here's How Goldman Sachs Views Microchip, AMD

Goldman Sachs analyst Toshiya Hari downgraded Microchip Technology Inc MCHP to Neutral from Buy with a $79 price target (2.4% upside).
He sees supply tightness across its MCU, analog, and FPGA franchises to support sequential revenue growth through 2022.
Hari thinks customer bookings could moderate, notably if the evolving macro backdrop led to more muted consumer spending and industrial activity.
Hari maintained a Buy on Advanced Micro Devices Inc AMD, with a price target of $127 (6.1% upside).
Meanwhile, Hari removed the stock from the Conviction List.
Hari stays constructive on AMD's ability to expand gross and operating margins. Hari expects the Street estimates to stabilize over the coming quarters.
Price Action: AMD shares closed lower by 0.71% at $119.67, and MCHP shares closed lower by 0.67% at $77.16 on Friday.