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Advanced Micro Devices, Inc. (AMD
AMD
Advanced Micro Devices Inc
19.42
+2.53%
) shares rose around 2.5% on Monday after Cowen & Co. reiterated its Outperform
rating and raised its price target to $25.00 from $21.00 per share. After meeting with
CEO Lisa Su, analyst Matthew Ramsay pointed to management's determination to capitalize on
opportunities to gain market share in data centers and client markets. The company could
also gain from its seven-nanometer (7nm) products expected later this year.
Cowen's upgrade of AMD stock comes shortly after Intel Corporation (INTC
INTC
Intel Corp
47.69
+0.02%
) announced another delay of its 10nm chip, which is now expected to come out sometime
late next year. Bank of America analysts downgraded Intel stock to Neutral from Buy following
the delay while lowering their price target to $56.00 from $62.00 per share. AMD, NVIDIA
Corporation (NVDA
NVDA
NVIDIA Corp
244.13
-3.13%
) and other companies could use this opportunity to "leapfrog" Intel in key markets.
Read more: AMD Stock Breaks Out but Approaches Overbought Levels |
Investopedia https://www.investopedia.com/news/amd-stock-breaks-out-approaches-overbought-levels/#ixzz5MmvcLCC2
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