Wells Fargo Maintains Outperform as AMD (AMD) Announces New Processors
Wells Fargo today maintained an Outperform rating on AMD (NYSE: AMD) with a price target of $5.00 to $7.00. This morning the company announced arrival of its 32nm Richland APUs. These processors serve as the successors to AMD's line of 32nm Trinity processors, which were released in May of 2012.
Commenting on developments, analyst David Wong of Wells Fargo said, "We think it is notable that Richland represents a third generation of chips on 32nm technology, with AMD not planning to move to 28nm till later this year. . . . AMD has been bringing out some interesting new microprocessor products which
leverage is graphics expertise. In our view, the company has done a good job in
restructuring its business to reduce risk from high capital needs."