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Citi Research reiterates Sell rating for AMD on Intel competition

Published 10/23/2017, 09:31 AM
Updated 10/23/2017, 09:31 AM
© Reuters.  Citi Research reiterates Sell rating for AMD on Intel competition

© Reuters. Citi Research reiterates Sell rating for AMD on Intel competition

  • Citi Research reiterates its Sell rating for Advanced Micro Devices (NASDAQ:AMD) and a $5 price target.
  • Analyst Christopher Danely writes that Intel’s (NASDAQ:INTC) new CPUs “appear to have extended its performance lead” and sees AMD’s CPU market share worsening over time as competition increases.
  • The analyst forecasts a 7.2% market share for AMD in Q3.
  • Danely cites benchmark reports showing Intel’s new chips outperforming AMD’s Ryzen processors by 20%.
  • AMD will report Q3 results on October 24.
  • AMD shares are up 0.87% premarket to $13.93, a 36% upside from Citi’s price target.
  • Now read: Intel Coming Back To Life - Ian Bezek's Idea Of The Month

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