- KeyBanc analyst John Vinh reiterated an Overweight rating on Advanced Micro Devices, Inc (NASDAQ:AMD) with an $85 price target.
- AMD hosted a launch event for its fourth-generation EPYC server CPU Genoa, which increased his confidence that the Company will continue to sustain its market share gains in servers, particularly in the cloud vs. Intel Corp (NASDAQ:INTC).
- More specifically, AMD, citing benchmark tests vs. INTC’s Ice Lake, indicated the performance of Genoa is 3x more remarkable, 55% faster on a per-core basis, and stated that power efficiency is 48% greater.
- Additionally, AMD featured several critical customers, including Microsoft Corp (NASDAQ:MSFT) Azure, GCP, Oracle Corp (NYSE: ORCL), HP Inc (NYSE: HPQ), Dell Technologies Inc (NYSE:DELL), and Lenovo Group Ltd (OTC:LNVGF) (OTC:LNVGY), all providing endorsements for AMD and its latest-generation processors.
- Notably, Azure announced it is now in public preview mode on two instance types running Azure.
- With INTC’s Sapphire Rapids delay until mid-next year, he saw sustained market gains for AMD in servers through 2023.
- Price Action: AMD shares traded higher by 5.27% at $72.08 on the last check Friday.
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An anonymous Ethereum (CRYPTO: ETH) wallet acquired more than 3 trillion Shiba Inu (CRYPTO: SHIB) tokens in a single transaction.
