AMD Higher on Speculation of Merger With NVIDIA (AMD, NVDA)
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Shares of Advanced Micro Devices Inc. (NYSE: AMD) are higher today on speculation of a combination with NVIDIA (Nasdaq: NVDA), which was mentioned as a possibility by American Technology Research analyst Doug Freedman earlier today.
Freedman said a NVIDIA/AMD deal makes sense for a number of strategic reasons. Highlighiting the key points, Freedman said the positives of a nVidia/AMD outweighing the negatives and both companies would benefit. He also said a deal could be what is needed to move beyond a ~20% CPU company. Freedman said he would likely be more positive after a deal.
Freedman said a deal could bail AMD "out of its mess" and provide and an exit for frustrated AMD shareholders.
The firm is maintaining their Neutral rating on NVIDIA. The firm has a Buy rating on AMD.
Shares of AMD are up 5%. NVDA is down 2%
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