AMD Explodes as Processor Presentation in Taiwan Impresses
AMD investors are picking up what the company is putting down.
Shares of Advanced Micro Devices Inc. (AMD) were up 5% Wednesday, June 6, following the company's presentation at the Computex conference in Taiwan on Tuesday night.
Rosenblatt analyst Hans Mosemann published a note Wednesday saying that he was impressed by the chipmaker's presentation at the conference, much more so than the presentations of rivals Intel Corp. (INTC) and holding Nvidia Corp. (NVDA) , which Mosemann described as blander than AMD's.
Nvidia shares were down 0.9% while Intel shares were down 0.4%.
Specifically, Mosemann was impressed with the presentation's suggestion that AMD could have both architectural and process node advantages in 2019, a proposition that Mosemann said was "inconceivable" before Computex.
- Nvidia CFO: Crypto Remains 'a Sma ll Portion of Our Business'
Mosemann is convinced that "AMD may be a more relevant player than the Street is willing to accept" based on its graphics processing unit and strategy to optimize CPU and GPU platform solutions.
Mosemann has a Wall Street-high $27 price target on AMD shares with a "buy" rating. The average price target for the company is $15, based on data from Bloomberg.
Nvidia is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells AAPL or GOOGL? Learn more now.
More from Technology
GM Plans to Roll Out Self-Driving Technology to All Cadillacs in 2020
By 2023, GM hopes to expand its hands-free, driver assistance technology to all its car brands.
Under Fire, Facebook Is Killing Troubled Huawei Agreement
Facebook says it's terminating a troubled data-sharing partnership with Huawei, a Chinese phone maker flagged by U.S. intelligence. Lawmakers are rankled, but will users even blink?
This Technology ETF Could Be Signaling a Looming Tech Stock Rout
The last time the SPDR Technology fund did this, a selloff shook the market just a few days later.
First Solar Shares Plummet After Downgrade
First Solar shares are suffering after the Chinese government put a halt to its solar programs.Source: Google News Taiwan | Netizen 24 T aiwan