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AMD Stock Price Is Poise to Grow Amid Better Market Position

Advanced Micro Devices, Inc. Slashes Prices for Its Radeon 5700 GPU Ahead of Launch

AMD (NASDAQ: AMD) stock price looks steady after experiencing noteworthy rally in the first half of this year. However, the analysts are seeing the extension of upside momentum in the coming days. They believe AMD is in a better position to expand its market share compared to Intel (NYSE: INTC) and Nvidia (NASDAQ: NVDA).

AMD stock price soared 35% since the beginning of this year. The shares are currently hovering close to 52-weeks high of $35. The potential deal between the United States and China is adding to the trader’s confidence.

AMD Advanced Micro Devices, Inc. daily Stock Chart

Analysts are Seeing Upside for AMD Stock Price

Morgan Stanley has raised AMD price target amid improving market share. The bank says AMD is in “remarkable position” to grow its market share against both Intel and Nvidia.

In addition, Morgan Stanley analyst Joseph Moore believes the company is expected to enhance market share in every category next year.

The emerging market opportunities in semi-custom solutions, IP licensing, supercomputers and cloud gaming are among the growth catalysts for AMD.

On the other hand, Lynx Equity also presents a bullish case for this chip-making company. The firm says, “Microsoft’s endorsement of “is a harbinger of things to come in the notebook space for AMD.”

Wells Fargo predicts the collaboration between Microsoft and AMD reflects another evidence of AMD’s hold in the latest CPUs.

Financial Numbers Vindicate Bullish Sentiments

The company has been experiencing financial growth on a quarter over quarter basis. This is because of its new business strategy of focusing on graphics, compute and solutions.

AMD Stock Price Is...

Its second-quarter revenue increased 13% sequentially amid strong GPU sales. The company expects to generate similar results in the third quarter.

The company claims that it has achieved an inflection point in the second quarter. This is due to its confidence in new Radeon, Ryzen and EPYC processors – which the company believes form the most competitive product portfolio in its history. Overall, several catalysts are supporting AMD stock price upside momentum.

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Based in Saudi Arabia, Siraj has a strong understanding of and passion for accounting and finance. He has worked for international clients for many years on several projects related to the stock market, equity research and other business, accounting and finance related projects. Siraj is a published financial analyst on the world's leading websites including SeekingAlpha, TheStreet, MSN, and others.