Despite very late bullish calls on Advanced Micro Devices (NASDAQ: AMD), the stock rose ~ 5% again last week and is up 34% for the month. Bulls continue to squeeze out the bears but with short float at 15%, the stock may continue its run higher. Investors may prudently buy puts or hedge AMD stock to protect against any near-term drop. Yet the long-term still looks bright for AMD shareholders.
AMD started last week with Lattice Semiconductor (NASDAQ: LSCC) announcing it named Jim Anderson the president and CEO of its company. The executive was previously GM and senior VP of the computing and graphics unit.
Lattice Semi is in the business of IP/semiconductor devices and Qterics, a discrete SaaS business. As an FPGA firm, the company competes with Intel (NASDAQ: INTC), which bought Altera (NASDAQ: ALTR) to enter this market.
AMD’s New GPU
AMD’s announcement of a Radeon Pro V340, which targets the data center, sent the stock above the $25 range. The markets are correctly assigning a higher value for AMD stock. V340 is a graphics card whose purpose is to provide high-performance dual-GPU Virtual Desktop Infrastructure (VDI) in data center visualization workloads. CAD, design DaaS (Desktop as a Service), and rendering all use this dual-GPU solution.
Though AMD stock stalled at around the $25 level, the long-term share price is very likely higher.
Tech Insider
