AMD stock upgrade to Susquehanna after results

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Susquehanna analyst Christopher Rolland upgraded shares of Advanced Micro Devices Inc. AMD,
-1,97%
to positive from neutral on Wednesday, following the report on the better-than-expected results of the chip company and Intel Corp.’s INTC,
-0,66%
confess last week that it should delay the release of its 7-nanometer chips. “As stock changes appear to be accelerating for AMD and the competitive gap widens, we can no longer patiently wait,” Rolland wrote in his note to customers. He expects AMD to see a 20% share in the server market by 2023, up from a single-digit share today, and a 35% share in laptops, up from around 20. % now. “Overall, hopefully we’re looking at over $ 3 in BPA in 2023 and a bull deal for almost $ 5 in 2025,” he wrote. AMD shares are up 11% in pre-market trading on Wednesday and have gained 47% so far this year. The S&P 500 SPX,
-0,64%
is down 0.4% during this period and the PHLX Semiconductor SOX index,
-2,10%
is up 11%.

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