Bullish options flow was detected in AMD stock on December 20, 2019. The bullish options flow is likely from Wedbush’s massive price target hike.
Wedbush analyst Matt Bryson raised his price target on AMD (AMD) shares to $51.50 from $39.00 as he is increasingly confident in his 2021 estimates given that AMD continues to execute and Intel (INTC) continues to struggle. As evidence of the former point, Bryson points to review sites’ “ubiquitously positive” take on Threadripper’s launch last month, and to support the latter the analyst notes conversations with Intel customers and contemporaries since November that “have drawn a picture of Intel’s shortages worsening.” Bryson keeps an Outperform rating on AMD shares.
On December 17, 2019, Nomura Instinet analyst David Wong told investors in a research note that 2020 could be a year of recovery for semiconductors and semiconductor equipment. The analyst is projecting semiconductor industry sales growth of 8% and he thinks that wafer processing equipment sales could rise 11% in 2020. The analyst reiterates his Buy rating on AMD (AMD).
Also on December 17, 2019, 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.
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.