- Drexel Hamilton has launched coverage on AppliedMicro (NASDAQ:AMCC) with a Buy rating an $11 target. Shares are back above $7.
- The launch comes a day after AppliedMicro unveiled the X-Gene 3, the latest entry for its ARM server CPU line - it features 32 cores operating at up to 3GHz, relies on TSMC's recently-launched 16nm FinFET manufacturing process, and is expected to begin sampling in 2H16.
- The company also announced a high-speed interconnect technology called X-Tend, which is promised to connect multiple X-Gene CPUs with large memory pools at low latencies, and a partnership with Italian custom server OEM E4 Computer Engineering to bring X-Gene-based systems to market.