** Advanced Micro Devices AMD.O reported disappointing data center revenue, which includes lucrative AI chips that investors are betting on for rapid growth
** AMD shares down 5.4% at $164.98 premarket
CHINA RESUMPTION VAGUE
** HSBC ("buy," PT: $200) notes the potential for MI308 chips to add to revenue on easing export restrictions appears to be "more muted than market expectations"
** Morgan Stanley ("equal-weight," PT: $168) anticipates progress in the next gen MI400 chip series to be "ultimate value driver for the stock"
** Brokerage notes, AMD's timeline to ship MI308 to China is "more vague than expected"
** J.P.Morgan ("neutral," PT: $180) says AMD is well-positioned to end the year with nearly half of the market share in server CPU due to the strong demand for its next gen CPU portfolio
** Deutsche Bank ("hold," PT: $150) says it remains impressed with AMD's execution across product lines, and expects solid growth to continue in CPUs and likely growth in data center GPUs
(Reporting by Kanchana Chakravarty in Bengaluru)
((Kanchana.Chakravarty@thomsonreuters.com))
