AMD (AMD) Conference Presentation Bodes Well For Future Design Wins - Rosenblatt
Rosenblatt analyst Hans Mosesmann reiterated a Buy rating and $70.00 price target on AMD (NASDAQ: AMD) after hosting a virtual fireside chat with David Wang, the SVP of Radeon Technologies Engineering Group. AMD's GPU technology is the only supplier for Apple (NASDAQ: AAPL) discrete GPU solutions and is in two out of the three leading game console designs (MSFT and SNE) AMD is also collaborating with Samsung, to put their IP into mobile devices. On the data center front, AMD is collaborating with Google's Stadia for cloud gaming and Microsoft Azure for cloud services. The company feels that they have a strong product roadmap versus the competition that helps them to capture several collaborations and design wins.
The analyst stated "Our sense is that the reiterated launch of 7nm-based RDNA2 (Big Navi gaming GPU) and 7nm-based CDNA (data center GPU upgrade from Vega 7nm) is set to gain share from existing minimal levels. At the end of the day, the AMD story is more than just x86 CPU share gains, it's about accelerating computing dynamics that are secular in nature, in which the company is executing near-flawlessly".
Shares of AMD closed at $54.40 yesterday.