AMD (AMD +10.9%) continues rocketing higher after catching upgrades from BofA/Merrill and...

|By:, SA News Editor

AMD (AMD +10.9%) continues rocketing higher after catching upgrades from BofA/Merrill and Canaccord, and appears to be giving a lift to Intel (INTC +2.6%) along the way. BofA's Vivek Arya joins a long list of analysts (previous) touting AMD's Xbox One/PS4 design wins, declaring they can "transform AMD into a profitable, diversified company with a multi-year recurring revenue stream, away from its inconsistent past under Intel's shadow." Canaccord's Bobby Burleson takes a similar view, and argues AMD can outperform "PC-centric names" as embedded chip sales ramp. 15.3% of AMD's float was shorted as of June 14.