Analysts remain optimistic on Advanced Micro Devices Inc. post Q4 beat.
Keybanc analyst John Vinh maintained AMD with an Overweight and raised the price target from $155 to $165 (41.3 percent upside).
Summit Insights analyst KinNgai Chan reiterated his Hold rating on AMD after its better than expected Q4 results.
The analyst notes that the company will continue to outperform near-term expectations through the first half of the year due to market share gains against Intel Corp. in both the PC client and the data center markets.
However, those gains will moderate toward the end of the first half as Intel refreshes its product line.
Chan’s industry checks indicate a high probability of increased price competition in the CPU market in the second half of the year.
By Anusuya Lahiri