AMD stock surges, after Instinet calls it a 'buy'
Analyst David Wong is encouraged by several aspects of AMD’s AMD, +11.81% business, including its “solid” positioning in the x86 microprocessor and standalone GPU markets. “We contrast this with competitors Intel and Nvidia NVDA, +4.24% which are each dominant in only one of the microprocessor/GPU markets,” he wrote in a note to clients.Wong sees potential for AMD to pick up market share in both microprocessors and GPUs.
Profitability is also a key lever in Wong’s view, as he writes that “a return to sustainable profitability” could help give shares a boost. In the next few years, he sees an opportunity for AMD to show earnings power of $2 a share. The company generated 46 cents in annual EPS in 2018.
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