Advanced Micro Devices (AMD) stock was on the move Thursday following an update to the company’s CPU unit share. The semiconductor company has continued to see growth in its share of the CPU market over the past year. AMD’s total CPU unit share increased 2.9% year-over-year in Q2 to 24.2%.
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Breaking down that year-over-year CPU growth, Server CPU unit share increased 3.2% to 27.3%, and Desktop CPU unit share rose 9.2% to 32.2%. Mobile was the one sector where AMD didn’t see significant growth year-over-year, with a slight 0.2% jump to 20.6%.
This latest data shows that AMD is chipping away at Intel’s (INTC) dominance in the CPU market. That’s something that has also been reflected in recent Steam Hardware Surveys. The gaming platform’s August survey revealed 41.26% of processors on the platform were AMD, compared to 58.74% for Intel. This was also an improvement for AMD from its July result of 39.65%.
AMD Stock Movement Today
AMD stock was down 1.5% as of Thursday morning but remained up 52.68% year-to-date and 25.15% over the past 12 months. The company has continued to see strong demand for its consumer and server products, gaining on leaders Intel and Nvidia (NVDA).
While AMD still has a ways to go before it can challenge Intel and Nvidia’s dominance of the CPU and GPU markets, its steady progress is a positive sign for AMD shares and could result in more gains in the long term.
Is AMD Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for AMD is Moderate Buy, based on 25 Buy and 12 Hold ratings over the past three months. With that comes an average AMD stock price target of $183.97, representing a potential 1.24% upside for the shares.
