On Tuesday, May 18, Advanced Micro Devices (AMD 2.25%) finished the day with over 8% gains after releasing numerous new products and receiving a bullish upgrade and price target increase. Today's video focuses on these topics and what they mean for long-term investors. Here are some highlights.
- Piper Sandler upgraded AMD from neutral to overweight and increased its price target to $140 from $98. The upgrade is a change of tone as numerous analysts have decreased price targets for AMD and other semiconductor companies in the past few months due to fear of reducing consumer spending.
- Online reports by TechSpot show that AMD is gaining CPU market share from Intel (INTC 1.54%). The most significant year-over-year (YoY) market share gains are the server market, which deals with cloud provider customers, and the mobile laptop market. Investors should note that AMD did see a YoY decrease in desktop CPUs.
- AMD has released new products and announced new partnerships within the past few weeks. Thanks to its recent Xilinx acquisition, AMD released robotics developer kits and announced that Meta Platforms (META -0.06%) is using Xilinx's chips to develop its mobile network infrastructure. AMD also announced a collaboration with Qualcomm (QCOM 3.33%) to optimize Wi-Fi connectivity in the enterprise market.
*Stock prices used were the pre-market prices of May 18, 2022. The video was published on May 18, 2022.