AMD bull sees multiple expansion from supercomputer win

Mar. 05, 2020 8:54 AM ETAdvanced Micro Devices, Inc. (AMD)AMDBy: Brandy Betz, SA News Editor40 Comments
  • Yesterday, AMD (NASDAQ:AMD) and HPE announced winning a $600M supercomputer order from the U.S. Department of Energy’s nuclear security arm.
  • Rosenblatt Securities analyst Hans Mosesmann says the win is "an important element of the AMD story being much more than a market share gain cycle in CPUs" and sees the contract supporting multiple expansion.
  • Mosesmann: "Look for AMD to start to become prominent in the TOP500 and the Green500 supercomputer lists in the coming years."
  • Rosenblatt maintains a Buy rating and $65 target on AMD.
  • AMD shares are down 3% pre-market to $48.59.

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