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Stifel Sees New Chip Powering AMD Profits

Published 07/24/2018, 06:43 AM
Updated 07/24/2018, 06:43 AM

Investing.com - Strong PC sales are driving demand for AMD's new line of chips, which will boost its profitability in the third quarter, according to Stifel.
The Wall Street firm increased its 12-month, stock price target on the chipmaker by about 25% to $21 a share.
Stifel singled out demand for AMD's new Zen-based PC CPU, which has a bigger profit margin than other chips.
The firm said a higher percentage of AMD's revenue is "transitioning to the Zen-based PC CPU."
Stifel forecast AMD's profit margin will rise to 37.7% in the third quarter.
AMD shares are up almost 17% in the past 12 months.

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