AMD Stock Cools, but Analysts Are Hot for New Epyc Super Chip

Canaccord Genuity raised its price target to $20.
Author:
Publish date:

Advanced Micro Devices is looking to gain momentum off of their speed... both in the processing power of their brand new Epyc chip and their ability to unveil it before the competition. But after a red-hot session following the launch, the company is down 1% today.

AMD enjoyed an initial jump of nearly 15% since Monday's closing price and analysts have a generally positive of the company's "Epyc" future.

Canaccord Genuity analysts are estimating that Epyc will bring in $100 million in revenue this year, and as the company ramps up production and sales, $1 billion in revenue is achievable by 2020. The firm raised the company's price target to $20 from $17.

BMO Capital Markets analyst Ambrish Srivastava was also bullish on the company's prospects, 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 of capturing double-digit share in the data center CPU market."

Full Story: Advanced Micro Devices New Epyc Super Chip Could Rake in $1 Billion in Sales By 2020

Watch More From TheStreet: