$AMD(AMD)$ Advanced Micro Devices
While other industries have floundered in the face of a global semiconductor shortage, Advanced Micro Devices (AMD) is basking in the sustained high demand. The computer processor designer recently reported impressive earnings, beating Wall Street consensus estimates on sales, earnings per share, and gross margins. Looking beyond the third quarter, analysts are taking notice of AMD’s bright future. (See AMD Stock Analysis on TipRanks)
One of those analysts, Hans Mosesmann of Rosenblatt Securities, wrote that AMD’s “David vs. Goliath” story is just now being taken seriously by investors. He added that the company has been disrupting the existing semiconductor industry, and its competitors, namely Intel (INTC), are fighting an uphill battle.
Mosesmann solidified his bullish stance on the stock by rating it a Buy, and raising his price target to $180 from $150.
The analyst explained that AMD is experiencing high levels of momentum in all of its products. Meanwhile, its business is seeing “stronger than expected demand, share gains, and better than expected execution on supply related constraints.” Describing the stock as a “top three Buy pick,” Mosesmann indicated his long-term confidence in AMD.
Furthermore, he expects years of growth for AMD’s market share in data centers, communication infrastructure, and industrial and automotive applications.
Out of over 7,000 analysts, Mosesmann ranks as No. 38 by TipRanks. The site has calculated his success rate to be 73%, and his average return per rating to be 31%.