AMD received a $40 price target — tied for the most bullish on Wall Street — from FBN Securities.
AMD server chip could be a strong driver for total revenues, and help the company gain shares in CPUs over Intel, FBN analyst Shebly Seyrafi said.
But AMD’s semi-custom segment could decline next year as its downstream partners Microsoft and Sony are unlikely to launch major new gaming consoles until 2020, according to Seyrafi.
Shares gained as much as 6%, but have rolled over and are now negative.
Watch AMD trade in real time here.
AMD shares gained as much as 6% Thursday after the company received a $40 price target — tied for the most bullish on Wall Street — at FBN Securities. However, they have surrendered those gains and are now trading down more than 2%.
“The company currently has a strong new product cycle driven by its Zen architecture, with Ryzen processors introduced for the PC market in 2017, fifth-generation graphics chips (with the introduction of Radeon RX Vega in 2017 and the Radeon Pro V340 in 2018), and EPYC processors for the enterprise server market all ramping well currently,” analyst Shebly Seyrafi said in a note sent out …read more
Source:: Businessinsider – Finance