Robert Stephens Raises Advanced Micro Devices to Buy
Robertson Stephens raised its investment rating on Advanced Micro Devices Inc. (AMD ) to buy long-term attractive.
The microprocessor maker reported a fourth quarter earnings per share of $0.53 on a 22% rise in revenues.
Analyst Eric Rothdeutsch said AMD managed to grow processor units from 2.3%, a clear indication the company is gaining market share. He noted the company is particularly well positioned to continue market gains over coming quarters given its flawless execution, strong demand for Athlons, and forecasted sharp growth in Duron sales.