JPMorgan Sees AMD (AMD) Stock Outperforming in Near Term on Xilinx (XLNX) Deal Approval in China, Cloud DCG Declines at Intel (INTC)

January 27, 2022 9:20 AM EST
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A team of TMT analysts at JPMorgan sees AMD (NASDAQ: AMD) well-positioned to outperform in the near term on two positive catalysts.

First, Intel’s (NASDAQ: INTC) earnings report showed cloud DCG declines, which “will be viewed as another positive for AMD.”

Moreover, it was reported earlier this morning that China's State Administration for Market Regulation has conditionally approved AMD’s $35 billion deal for Xilinx.

The deal is approved on the condition that two companies don’t force tie-in sales of products or discriminate against customers that choose to buy products from one company but not from the other.

Both catalysts “should allow AMD to outperform in the very near term,” JPMorgan analysts wrote in an email to clients today.

AMD stock price is up 1% in pre-market Thursday.

By Senad Karaahmetovic | [email protected]

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