AMD shares on track to continue in 2019

Nomura Instinet said Advanced Micro Devices shares were the big winners in 2019, and the company’s upcoming offerings will keep it strong in the new year. Analysts at Nomura Instinet raised their target price for the chipmaker’s stock to $58 per share from $40 a share in a note to customers on Thursday. The new target price is about 26 per cent higher than the stock’s latest closing price.

AMD shares on track to continue in 2019

Nomura Instinet also maintained its buy rating for AMD, the biggest gainer in last year’s S.P. 500, about 150 percent.

Nomura Instinet said AMD will launch new products throughout the year to help gain market share in a number of areas.

AMD shares on track to continue in 2019

Analyst David Wong wrote that he expects AMD’s market share in the data center to rise from about 5 percent in September 2019 to 10-15 percent by the end of 2020.

The report says the introduction of new consoles in 2020 will also generate revenue growth for AMD by 2020. Wong forecasts that the company’s total revenue will grow by 30 per cent this year.

Semiconductor stocks outperformed the Standard and Poor’s 500-stock index overall last year, although the index also had its best year in decades. The Philadelphia Semiconductor Index is up 60 percent in 2019.

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