Why AMD (AMD) Shares Are Trading Higher Today - Advanced Micro Devices (NASDAQ:AMD)

KeyBanc analyst John Vinh reiterated an Overweight rating on Advanced Micro Devices, Inc AMD with an $85 price target.
AMD hosted a launch event for its fourth-generation EPYC server CPU Genoa, which increased his confidence that the Company will continue to sustain its market share gains in servers, particularly in the cloud vs. Intel Corp INTC.
More specifically, AMD, citing benchmark tests vs. INTC's Ice Lake, indicated the performance of Genoa is 3x more remarkable, 55% faster on a per-core basis, and stated that power efficiency is 48% greater.
Additionally, AMD featured several critical customers, including Microsoft Corp MSFT Azure, GCP, Oracle Corp ORCL, HP Inc HPQ, Dell Technologies Inc DELL, and Lenovo Group Ltd LNVGF LNVGY, all providing endorsements for AMD and its latest-generation processors.
Notably, Azure announced it is now in public preview mode on two instance types running Azure.
With INTC's Sapphire Rapids delay until mid-next year, he saw sustained market gains for AMD in servers through 2023.
Price Action: AMD shares traded higher by 5.27% at $72.08 on the last check Friday.

AMD Likely To Support Server Market Share Gains Versus Intel, Analyst Says