Speaker · Updated

Matt Bryson: latest market views

Wedbush Securities

Summary

Matt Bryson is a Managing Director of Equity Research at Wedbush Securities who covers enterprise hardware and semiconductors, and has followed the technology sector for nearly two decades.

Chorus has 5 views from Matt Bryson across 3 episodes on CNBC Closing Bell and CNBC Fast Money since October 22, 2026. Their latest calls: bullish on Advanced Micro Devices, Seagate Technology Holdings and Western Digital.

Where they stand

Their latest bullish or bearish call on each company.

What they talk about most

The latest views

Newest first. Every quote is checked against the episode's transcript.

  • Advanced Micro DevicesBullish

    Outperform on AMD: guidance above consensus, ~80% revenue growth, $600 target; 40x growth multiple defensible.

    AMD gave a better number and a better guide. It expects revenue to rise about 80% next year, which implies more than $94 billion and is above consensus. Epic sales are doubling. Gross margins will be lower because of the Instinct mix, with mid-50s guided for next year and for Q4. On valuation, he is comfortable with about 30 times if growth is 80%, and he has pushed his multiple to 40 times. Above that the valuation gets hard to defend, and Intel at 50 to 60 times worries him. He rates AMD outperform with a $600 target.

    “they gave us a better number, they gave us a better guide... they're talking about revenues being up in total 80% next year, so that gives you 94,000,000,000 plus in revenue, which is above where consensus was.”at 33:23

    CNBC Fast Money: Cracks In The AI Trade… And AMD Reports Results 11/3/26 ·

  • AI infrastructure & data centers

    Data center spending is strong across AMD, Super Micro and peers; no weakness in the component supply chain.

    Companies reporting last week, Super Micro today and AMD all say data center spend is really strong. From a component supply chain perspective, he is not seeing any weakness. AMD is better positioned because its Instinct chips sell mostly into large clouds, which reduces its cloud-customer exposure. Its Epic business benefits from agentic AI, and everyone needs compute, including neoclouds like CoreWeave.

    “So we've heard from companies last week, we heard from Super Micro today, AMD as well, that the data center spend is really strong. And so from a component supply chain perspective, I'm just not seeing any weakness.”at 34:19

    CNBC Fast Money: Cracks In The AI Trade… And AMD Reports Results 11/3/26 ·

  • Seagate Technology HoldingsBullish

    Seagate is a key beneficiary of AI storage demand; hard-drive pricing should follow NAND higher.

    Bryson argues AI needs large amounts of data and hard drives are the cheapest way to store it, and there are not enough of them. NAND, the closest peer, has risen six or seven times in a year or two, and he expects hard drives to follow, perhaps by three times rather than six, while pricing is still flat to the largest buyers. He expects contract resets at hyperscalers to bring big gross-margin jumps, as seen in DRAM and NAND. He treats the soft quarter as cyclical: exabyte shipment growth slowed after a strong quarter, and the implied guide of about 60% gross margin reflects lower production rather than a larger problem.

    “You need data for AI. And the cheapest way to store data is hard drives. There aren't enough hard drives.”at 22:00

    CNBC Closing Bell: Markets Brace for the Fed as Earnings Roll In 10/27/26 ·

  • AI infrastructure & data centers

    Neocloud paybacks under a year mean demand will be financed and built, so capex continues.

    Bryson says he feels better about the environment from talking to smaller neocloud providers, which he calls the variable sellers. Their payback time on data center investment is under one year. If the demand for actual capacity is there, someone will find a way to finance and build it, so semiconductors and hard drives will still be needed. He argues there will be no end to spending soon. He expects builders to work around constraints in funding, power, and siting, including by building outside the US where there are no moratoriums.

    “Their payback time is amazing. It's sub one year on bringing on data center investment. I think if there's that much demand out there for actual capacity, that someone's going to find a way to finance and build it.”at 19:15

    CNBC Closing Bell: Closing Bell Overtime: Tech’s Rally Comes Undone 10/22/26 ·

  • Western DigitalBullish

    Hard drive shortage of over 400 exabytes makes Western Digital's supply constraints durable; outperform.

    Bryson says Western Digital's forecast beat the Whisper number and that the stock is not moving because the market is focused on the whole AI spend, not the company. He cites a shortage of over 400 exabytes of hard drives against what the major clouds are looking for, which is more than 20% of the market. He says there are shortages in memory and hard drives, and the real problem is supply constraints, so constraints will persist even if there are setbacks. The host reported his Wedbush outperform rating with a $650 price target.

    “I think there's over 400 exabytes of shortage in terms of hard drives right now versus what particularly the major clouds are looking for. That's more than 20% of the market.”at 20:26

    CNBC Closing Bell: Closing Bell Overtime: Tech’s Rally Comes Undone 10/22/26 ·

Shows

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Setup guide

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