(April 15) Seeing it unlikely that Intel will ever regain its transistor advantage, Raymond James initiates Advanced Micro Devices(NASDAQ:AMD) with an Outperformrating and $100 price target.
Analyst Chris Caso attributes AMD's pullback this year to improving sentiment that Intel can improve its manufacturing situation. But Caso thinks Intel's commitment to in-house production will keep the company running behind AMD.
Caso says the current roadmaps show an advantage for AMD and foundry partner TSMC through at least 2024.
AMD shares are up 4.1% to $81.77.
Raymond James downgraded Intel, bearish on thefoundry push.
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