Advanced Micro Devices Inc. (AMD) - Get Report shares fell 0.9% to $14.25 by's Friday's close, after the stock jumped nearly 10% on Wednesday as the market digested news of its latest microchip release, Epyc.
Analysts began to weigh in on the company following the chip's unveiling.
BMO Capital Markets, which has an "outperform" rating and $15 price target on the company, is in a wait and see pattern with the company, with analyst Ambrish Srivastava saying, "In our view, launching Epyc CPU in a timely manner is AMD's first major step in the right direction in the company's goal in capturing double-digit share in the data center CPU market."
However, the firm also said that it would wait for independent benchmarks to be published before coming to any conclusions on the chip's potential penetration.
Canaccord Genuity meanwhile raised the company's price target to $20 from $17, anticipating that the chip will add $100 million in revenue this year while modeling for $1 billion in revenue by 2020. The firm maintained its "buy" rating on the company.
Oppenheimer expects AMD to see improved profits in the second half of 2017, as its top-end processor has garnered orders from Dell Technologies Inc. (DVMT) gaming affiliate Alienware. The purchase by Alienware, one of the gaming industry's best-selling computers, is expected to entice more gaming PC vendors into following suit.
What's Hot On TheStreet
Tesla still doesn't deserve its valuation: Tesla (TSLA) - Get Report fanboys have just gained their daily pound of flesh. The electric car company has reportedly reached a deal with officials in China to open a production facility in the world's biggest clean-energy car market. The deal would likely allow it to form a joint venture with a China-based partner and avoid the 25% tariff applied to imported vehicles. The move would also substantially cut shipping and production costs when compared to Tesla's facility in Nevada, TheStreet's Martin Baccardax reports.
Tesla is now valued at an insane $61 billion...and counting.
What was this Kroger exec drinking: Maybe this Kroger (KR) - Get Report fella has been up too late studying the aftershocks of Amazon's (AMZN) - Get Report big deal for Whole Foods. "I'm glad their stores are finally open," Kroger CFO Michael Schlotman said about German rival Lidl at Oppenheimer's Consumer Conference Wednesday. Schlotman said he is excited, in fact, he feels "great about it," to finally start seeing if the preparations Kroger put in place to compete with Lidl will stand the heat. TheStreet's Lindsay Rittenhousewas all over this bizarre exchange.
Having your profit margins crushed by a ruthless German grocer shouldn't be exciting, Kroger.
Don't forget about Intel: Advanced Micro Devices (AMD) - Get Reportmay beat Intel Corp. (INTC) - Get Report to selling the fastest computer chip this year, but the technology giant is working on other projects that are pushing the limits.
From artificial intelligence to drones, Intel is working to connect everything to the internet to collect data that can be used to improve safety, efficiency, and lifestyles. Whether it is helping athletes perform better or making cars autonomous, Intel's technology is working to transform multiple industries. Here are 11 cool projects Intel is working on that investors seem to have forgotten about.
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