Seeking Alpha

A roundup of tech ratings changes

  • Texas Instruments (TXN -2.5%) has been upgraded to Outperform by FBR following its Q3 beat and light Q4 guidance.
  • SanDisk (SNDK +0.3%) has been upgraded to Market Perform by BMO a week after beating Q3 estimates and issuing solid guidance.
  • AMD (AMD -3%) has been cut to Underperform by Bernstein. If it's any solace to bulls, the firm has been bearish on Intel for a year.
  • China Mobile (CHL -0.5%) has been cut to Sell by UBS a day after posting Q3 results (I, II).
  • Glu Mobile (GLUU +3.1%) has been started at Outperform by Cowen ahead of its Oct. 30 Q3 report.
  • TripAdvisor (TRIP +3.4%) has been started at Outperform by Credit Suisse as part of a coverage launch for online travel names. Q3 results arrive tomorrow.
  • RingCentral (RNG +1.1%) has received four bullish ratings, and no neutral/bearish ones, on underwriter coverage day.
Comments (9)
  • user418
    , contributor
    Comments (210) | Send Message
     
    GLUU onward and upward !!!!!!!!!!!!!!!!
    22 Oct 2013, 10:21 AM Reply Like
  • huyen
    , contributor
    Comments (2) | Send Message
     
    amd down everyday ,what is wrong?
    22 Oct 2013, 10:26 AM Reply Like
  • Stock Market Mike
    , contributor
    Comments (2152) | Send Message
     
    Big money doesn't like the margins.

     

    AMD mentioned on past conference calls their goal of moving away from the PC market and direct competition with Intel - their goal is a 50/50 split of PC and Semi-Custom.

     

    They're succeeding - by now they should be approaching 30-35% revenue semi-custom. Semi-custom revenue really tugs down the gross margins, but really helps operating margins - the market doesn't seem to like that.

     

    AMD stock holders are currently victims of understanding the company better than the market. Sometimes it pays to focus more on what the market expects than whether everything is going to plan. (Which it seems to be!)

     

    AMD's chance of a turnaround - 90%+!
    AMD's stock price movement over the next quarters - unknown.

     

    Good luck out there! Options are deadly with a stock like this. Much safer to just buy shares low and sell high, or sell calls high.
    22 Oct 2013, 11:37 AM Reply Like
  • Justin Jaynes
    , contributor
    Comments (3153) | Send Message
     
    short term options seem especially risky for AMD - given the magnitudes of sell offs after earnings, as well as overall volatility of the stock.
    22 Oct 2013, 11:50 AM Reply Like
  • Neosephiroth86
    , contributor
    Comments (272) | Send Message
     
    AMD in the new Mac pros!
    2 cards each Mac....
    22 Oct 2013, 12:11 PM Reply Like
  • Justin Jaynes
    , contributor
    Comments (3153) | Send Message
     
    you mean new mac pros?
    22 Oct 2013, 12:12 PM Reply Like
  • Justin Jaynes
    , contributor
    Comments (3153) | Send Message
     
    Neo - take a look at the Mac Pro - I think you're getting the two mixed up. Apple announced back in the summer at their developer summit the Pro would be launching this year, with up to dual AMD workstation cards.

     

    there are likely models that use only one, and some of the lower end workstation cards retail for around $500 or so.
    22 Oct 2013, 12:21 PM Reply Like
  • Neosephiroth86
    , contributor
    Comments (272) | Send Message
     
    Corrected...sorry :)
    22 Oct 2013, 12:21 PM Reply Like
  • chickensevil
    , contributor
    Comments (679) | Send Message
     
    AMD (AMD -3%) has been cut to Underperform by Bernstein. If it's any solace to bulls, the firm has been bearish on Intel for a year.

     

    Whoever works for Seeking Alpha that writes these up, I love the little things they put in like this. Always makes me laugh. Although in Bernstein's defense of their Intel rating, Intel has been down since their 52 week high of 25.98

     

    I feel I should mention I am still bullish on AMD.
    22 Oct 2013, 02:19 PM Reply Like
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