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AMD Analyst Projects Strong Start To 2021 For Chipmaker

December 1, 2020
Hans Mosesmann
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Benzinga

Advanced Micro Devices, Inc. AMD 3.33% is positioned strongly in each of the segments in which it operates thanks to its strong product momentum and execution, according to Rosenblatt Securities.

Against this backdrop, an analyst the firm is expecting an upward revision to near-term Street estimates.

The AMD Analyst: Hans Mosesmann reiterated a Buy rating on AMD with a $120 price target.

The AMD Thesis: AMD's Lisa Su hinted at an analyst conference the chipmaker's first quarter of 2021 is likely to be better than seasonal trends, Mosesmann said in a Monday note.

AMD historically averages about a 10% sequential decline between the fourth quarter and the first, the analyst said.

AMD can capture 50% of the entire x86 CPU market in the coming year, helped by technology and product roadmaps, accelerating design pipelines, increasing attach rates of GPUs to optimize EPYC server CPUs and more, he said.

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