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4 Takeaways From Advanced Micro Devices' Recent Trade Show Product Update

4 Takeaways From Advanced Micro Devices' Recent Trade Show Product Update

Breaking ranks from peers Loop Capital and Macquarie, which recently downgraded Advanced Micro Devices, Inc. (NASDAQ: AMD), Wells Fargo Securities gleaned hope Tuesday from the company’s Computex conference exhibit and reiterated an Outperform rating on the stock.

“We think that AMD has a rich lineup of new products which will improve the company’s competitive position and help drive it towards profitability,” senior analyst David Wong wrote in a Wednesday note.

The company presented its Ryzen and Radeon series and announced timelines for four products.

The 4-Pronged Pipeline

AMD first launched its EPYC processors and noted that the first applicable servers will be rolled out June 20.

Additionally, it will release its Ryzen Threadripper for desktops during the summer and its Radeon Vega Frontier machine-learning graphics cards June 27. A gaming-specific chip will launch during the SIGGRAPH 2017 conference at the end of July.

Not only did AMD showcase its products, but so did a number of its partners and customers. HP Inc (NYSE: HPQ), Acer, Asus, Dell and Lenovo featured desktop systems with AMD Ryzen processors, and AMD expects all major PC makers to market Ryzen-based technology by the end of June.

Notably absent from the list is Intel Corporation (NASDAQ: INTC). AMD crushed rumors of an Intel licensing deal last week.

Wells Fargo posted a $15 price target with a 2017 earnings-per-share loss estimate of $0.16.

Related Links:

Nvidia Will Maintain ‘Dominant Market Share’ Thanks To New Volta Chip

Intel Has Reportedly Ditched Nvidia For Advanced Micro Devices

Image Credit: By Quintin Lin -, CC BY-SA 2.0, via Wikimedia Commons

Posted-In: Analyst Color Long Ideas News Reiteration Events Analyst Ratings Tech Trading Ideas


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