AMD stock scores sixth straight record high as more data shows gains against Intel
Advanced Micro Devices Inc. shares closed at a sixth consecutive record high on Wednesday following continued indications that the chip maker is taking market share away from larger rival Intel Corp.
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Coincidentally, AMD’s streak began on July 28, the day after the company said it expected stronger data-center sales in the second half of the year, even as quarterly sales nearly tripled from those of a year ago, and hiked its revenue forecast to a 60% gain for the year. Since then, shares have rallied as much as 35%, while Intel INTC,
Read: AMD’s stock surges to record high while chip maker takes more market share from Intel
Additionally, the PHLX Semiconductor Index SOX,
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Citi Research analyst Christopher Danley, who has neutral ratings on both AMD and Intel, wrote in a Wednesday note that data from Mercury Research showed that while total microprocessor shipments had declined 3.1% quarter-over-quarter, AMD’s total share of the market increased to 16.9% in the second quarter from 16.1% in the first quarter. Meanwhile, Intel’s share fell to 83.1% in the second quarter from 83.9% in the first quarter.
The data also showed gains for AMD in the important data-center category. The Mercury data showed AMD with 8.9% share in servers, up from 5.5% in the year-ago second quarter and 8.2% in this year’s first quarter. That’s compared with Intel’s 91.1% share, down from 94.5% in the year-ago second quarter and 91.8% in the first quarter.
Additionally, a Wednesday report from tech news site wccftech.com noted that AMD CPUs are still outselling Intel, according to data compiled from MindFactory, Germany’s largest tech retailer.
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On Tuesday, AMD announced its line of Radeon Pro W6000X series of GPUs would be available in Apple Inc. AAPL,
Another tailwind for AMD shares could be coming from a Bloomberg report Tuesday that the U.K. may block GPU rival Nvidia Corp.’s NVDA,