Raising AMD FVE to $19 As We Incorporate 2019 Share Gains; However, Intel Will Rebound in 2020
After taking a fresh look at our x86 server and PC market share estimates, we are raising our fair value estimate for AMD to $19 per share from $13 per share. During Intel’s first-quarter conference call, the firm reduced its full-year 2019 revenue guidance by $2.5 billion to $69 billion (which implies a 3% year-over-year decline), while AMD anticipates full-year 2019 revenue to be up in the mid-single digits (which implies a 45% jump in second half sales over the first half). Collectively, thes...Advanced Micro Devices is a semiconductor company. The company primarily provides x86 microprocessors, as standalone devices or as incorporated into an accelerated processing unit, chipsets, graphics processing units (GPUs), data center and personnel GPUs, and development services; server and embedded processors, semi-custom System-on-Chip products, development services and technology for game consoles. The company also licenses portions of its intellectual property portfolio. The company's segments are: Computing and Graphics, which consists of desktop, notebooks, commercial, and chipsets products; and Enterprise, Embedded and Semi-Custom, which includes server processors, and embedded P\processors products.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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