[news] AMD's stock tops $30 for first time in more than 12 years - up 192% in 2018

[Nelly]

Advanced Micro Devices Inc. shares closed above $30 for the first time in more than 12 years as one of the few gaining chip stocks Tuesday as another analyst adjusted estimates based on weaker-than-expected memory chip demand.

AMD AMD, +0.75% shares closed up 0.7% at $30.10, their highest close since June 2, 2006, when shares closed at the same price. Shares had been up as much as 2.3% for an intraday high of $30.59.

The Santa Clara, Calif.-based chip maker was one of the few gainers in the sector as the PHLX Semiconductor Index SOX, -1.17% fell 1%, compared with a 0.4% rise in S&P 500 index SPX, +0.04% and a 0.6% gain in the tech-heavy Nasdaq Composite Index COMP, -0.23%

Earlier in the day, Rosenblatt Securities analyst Hans Mosesmann hiked his price target on AMD to $40 from $30, making him once again Wall Street?s most bullish analyst on the stock after a couple analysts last week had matched that $30 target.

Of the 30 analysts that cover AMD, 13 have buy ratings, 12 have hold ratings, and five have sell ratings, for an average price target of $19.81.

In a note, Mosesmann said AMD?s moves over the past several quarters reminds him of Nvidia Corp. NVDA, -0.09% shares about three years ago ?when that company transformed from a PC graphics play to a compute powerhouse.?

?However, we stress and caution that recent enthusiasm on AMD share appears may be implying much faster ?CPU? share gains in servers than history would suggest,? Mosesmann said. ?Server share transitions take time.?

The last time AMD shares cracked $40 was March 10, 2006, according to FactSet data.

On Monday, AMD shares rallied more than 9% after Susquehanna Financial analyst Christopher Rolland said AMD is gaining share on desktop and laptop chips, continuing the narrative that AMD is taking significant market share away from Intel Corp. INTC, +0.13% Meanwhile, a 3% drop in shares of Intel shares made them the worst performers Tuesday on the Dow Jones Industrial Average DJIA, +0.11% which closed up 0.4%.

Read: AMD short sellers gutted by ?stealthy short squeeze?

AMD has been on an incredible ride over the past five months. Shares are up more than 200% from their 52-week low of $9.53 set on April 9, or over a course of 96 trading days, adding $20.5 billion in market cap.

Source

[linflas]

I am doing quite nicely because of this, made a small jump on ryzen launch, and went bigger on zen+, I think 2019 will be good to, have to reassess near Q4 2019.