November Growth Moderates After Strong October For Cloud Stocks, Analyst Checks Indicate

Loading...
Loading...
  • KeyBanc analyst John Vinh maintained an Overweight rating and price target of $85 on Advanced Micro Devices, Inc AMD
  • Vinh remained Sector Weight on Intel Corp INTC and saw a fair value of $30.
  • Vinh reiterated the Overweight rating and price target of $230 on NVIDIA Corp NVDA.
  • Results from Vinh's November Cloud Instance Tracker indicate total instances were flat Month-Over-Month and +23% Y/Y, compared with October (+3% M/M, +29% Y/Y). 
  • Modest recovery from Alibaba Group Holding Limited BABA led to the results, while U.S. CSPs were essentially flat M/M. 
  • On a Y/Y basis, GCP was +36% and Amazon.com Inc AMZN AWS was +29% Y/Y, while China cloud rebounded modestly with BABA growth at +22% Y/Y, and Microsoft Corp MSFT Azure was +14% Y/Y. 
  • AMD processor instances growth paused and was flat M/M, +111% Y/Y, following an inflection in October (+15% M/M, +185% Y/Y). 
  • After seeing strong growth in October, all processor family instances were flat in November as CSPs began to transition to Genoa. 
  • NVDA instances grew +1% M/M and +26% Y/Y, vs. October (+3% M/M, +24% Y/Y). The sequential growth was driven by Ampere, solely at BABA.
  • Intel processor deployments were flat M/M and +11% Y/Y, compared with October (+1% M/M, +13% Y/Y), with Ice Lake growing +1% M/M and +74% Y/Y, with expansion seen mostly at BABA and AWS.
  • ARM-based processors' growth was flat M/M in November vs. +3% M/M in October. AWS Graviton and Ampere Altra processors were flat M/M in November. 
  • Price Action: MSFT shares traded higher by 1.72% at $248.57 on the last check Thursday.
  • Photo by Rainer Stropek via Flickr
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: NewsPrice TargetReiterationAnalyst RatingsTechBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...