We continue to track bullish options flow in AMD stock. Once again, on December 17, 2019, we have lots of call options contracts that dominate any put hedging in the stock.
The bullish options flow on December 17, 2019, is likely the result of Piper Jaffray and a report from Nomura.
Piper Jaffray analyst Harsh Kumar raised his price target for AMD (AMD) to $40 from $35 while keeping a Neutral rating on the shares. After meeting with management, the analyst feels AMD’s competitive positioning relative to Intel (INTC) “appears to be incrementally improving.” Specifically,the CPU issues impacting Intel have now started to creep into the server side as well as the mid-end PC business, Kumar tells investors in a research note.
2020 could be a year of recovery for semiconductors and semiconductor equipment, Nomura Instinet analyst David Wong tells investors in a research note. The analyst is projecting semiconductor industry sales growth of 8% and he thinks that wafer processing equipment sales could rise 11% in 2020. Wong continues to be selective in his stock picks, however. The analyst reiterates Buy ratings on AMD (AMD), Intel (INTC), Applied Materials (AMAT) and KLA-Tencor (KLAC).
On December 13, 2019, AMD announced that it has joined the Blockchain Game Alliance and forged partnerships with leading technology providers to help promote the development and proliferation of new blockchain-powered gaming platforms. As the first major hardware manufacturer to join the BGA, AMD plans to enable alliance members with efficient and high-performance computing technologies for next-generation blockchain-based gaming platforms that could potentially transform the way games are created, published, purchased and played. AMD also announced partnerships with leading blockchain technology providers, Robot Cache, which launched their online gaming marketplace in June, and ULTRA, which plans to launch its online gaming marketplace in the coming months.