Broadpoint.AmTech: AMD's Server Strategy Dovetails into Intel's (INTC) as Expected; Maintains "Buy" Rating

March 30, 2010 10:52 AM EDT Send to a Friend
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Broadpoint.AmTech maintains a 'Buy' rating on Advanced Micro Devices (NYSE: AMD), price target $14.

Broadpoint analyst says, "Yesterday, AMD hosted a web conference relating to its recent Opteron 6000-series (8 & 12-core targeting the 2P and 4P markets) server offering. Our net take-away was positive as we believe AMD's strategy dovetails with Intel's (Nasdaq: INTC) (Buy-rated) Nehalem-EX launch, which is later today."

"...Additionally, further strength could be driven by better-than-expected sales of "Magny-Cours" on compelling performance and power advantages that nearly mirror Intel (with substantially lower price points). As such, our server revenue assumption of $690M for FY10 (or ~10% of AMD sales) could prove conservative on ASP mix-shift and higher uptake rates."

To see all the upgrades/downgrades on shares of AMD, visit our Analyst Ratings page.

Advanced Micro Devices, Inc. (AMD) is a global semiconductor company.

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