- Advanced Micro Devices, Inc AMD stock is up Tuesday as B of A Securities re-rated the company. The chipmaker also launched the new AMD Ryzen and Athlon 7020 C-Series processors lineup, bringing modern performance and technologies to everyday Chromebooks.
- With speeds of up to 4.3 GHz, up to four cores and eight threads built on proven "Zen 2" architecture, and powerful AMD RDNA 2 integrated graphics, these processors are likely to deliver fast and responsive performance for modern productivity, video conferencing, learning apps, and streaming applications.
- Jason Banta, corporate vice president and general manager, Client OEM, AMD, said: "Whether you're a student using learning apps or a professional who needs a streamlined computing solution for productivity, you can expect uncompromised performance and excellent battery life, delivering a seamless experience overall."
- B of A Securities analyst Vivek Arya maintains AMD with a Neutral and raised the price target from $105 to $120.
- The analyst thinks AMD can ride the AI wave to take a more significant market share from rivals like Nvidia Corp NVDA.
- BofA forecasts AMD's share in the AI accelerator market to remain constrained in the 2% - 3% as none of the larger incumbents, Nvidia with a 70%-75% share and Broadcom Inc AVGO with a 10%-15% share, is stumbling in AI yet.
- AMD's session volume reached 27.5 million versus the average 100-day volume of 64.3 million.
- Price Action: AMD shares traded higher by 0.63% at $108.65 on the last check Tuesday.
- Photo via Wikimedia Commons
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