TECH - Why This AMD Analyst Thinks The Chipmaker Can Better Compete With Frontrunner Nvidia In AI Infrastructure Market; Stock 'A Strong Investment Opportunity' | Benzinga
Advanced Micro Devices, Inc. (NASDAQ:AMD) shares received a bullish recommendation from an analyst at Roth MKM, with the optimism premised on the company’s differentiated portfolio.
The AMD Analyst: Suji DeSilva initiated coverage of AMD stock with a Buy rating and a $125 price target, which suggests a roughly 9% upside from current levels.
The AMD Thesis: AMD's differentiated portfolio of high-performance compute/networking processors, and accelerators represents a strong investment opportunity, said DeSilva in a note.
The analyst said that the Santa Clara, California-based company has gained a share in the data center infrastructure market. He added that the company’s x86-based server processor market share increased from about 10% in 2020 to 25% by the middle of the calendar year 2023.
AMD beat rival Intel Corp. (NASDAQ:INTC) by reporting a 21% sequential increase in data center revenue compared to the latter’s 3% growth in its DCAI revenue, DeSilva noted. He said this was achieved due to 50% ...