Advanced Micro Devices, the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Vivek Arya from Bank of America Securities reiterated a Buy rating on the stock and has a $200.00 price target.
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Vivek Arya has given his Buy rating due to a combination of factors related to the competitive landscape and strategic positioning of Advanced Micro Devices (AMD). Arya notes that the collaboration between Intel (INTC) and NVIDIA (NVDA) may not have immediate negative implications for AMD, as the partnership could take years to yield significant product outcomes. This delay allows AMD to maintain its competitive edge in the near to medium term.
Furthermore, Arya points out that the potential success of the x86 architecture, especially in the enterprise sector, could benefit AMD alongside Intel. Additionally, the distractions faced by Intel due to its multiple collaborations and partnerships might provide AMD with an opportunity to capitalize on Intel’s divided focus. Overall, Arya believes that these factors collectively support a positive outlook for AMD, justifying the Buy rating.
Arya covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Intel, and Nvidia. According to TipRanks, Arya has an average return of 18.6% and a 61.34% success rate on recommended stocks.
In another report released on September 15, Piper Sandler also reiterated a Buy rating on the stock with a $190.00 price target.