Nomura Securities Maintains a 'Buy' on AMD; See Share Gain in Notebooks

Nomura Securities maintains a 'Buy' on AMD (NYSE: AMD).

Nomura analyst, Romit Shah, says, "AMD announced that the company has amended its pricing agreement with GLOBALFOUNDRIES (GF). We view the announcement as positive for AMD, providing downside protection to the company in case of a lower 32nm yield at G. The new pricing agreement is positive for GM, with the company maintaining its GM guidance of 44-48%. Also of note, AMD mentioned that Llano is already shipping for revenue, which is sooner than our expectation for a late-2Q shipment. We believe that AMD will gain several points of share in notebooks with Fusion APUs."

For more ratings news on AMD click here and for the rating history of AMD click here.

Shares of AMD closed at $8.10 yesterday.

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