NEW YORK, NY / ACCESSWIRE / May 17, 2017 / Traders were very enthusiastic about Advanced Micro Devices having confidence in the company. Both CEO and CFO laid out some optimistic statements at its annual analyst day meeting that helped shares head higher. Applied Materials also soared higher after it got a price target boost from Needham.

RDI Initiates Coverage on:

Applied Materials, Inc.
https://ub.rdinvesting.com/news/?ticker=AMAT

Advanced Micro Devices, Inc.
https://ub.rdinvesting.com/news/?ticker=AMD

Applied Materials, Inc. shares closed up 1.69% on Tuesday and even hit a new high of $45.08. This could be because the semiconductor company just got price targets before it releases its second quarter earnings. Two investment banks have raised their prices on Applied Materials. Needham upped its price target from $43 to $50 and said in a note, "With recent positive reports by peers and suppliers, we believe investors generally expect an upbeat fiscal Q2 report from Applied Materials. We believe the buy side already expects AMAT to raise guidance, but we are confident that the outlook will be strong enough to sustain the stock price." Patrick Ho from Stifel also raised its price target to $50 from $42 and said in a report, "The Company has repositioned itself in both the semi and display equipment markets where it is not only favorably positioned in many of the process segments where it plays but also growing its share within the overall framework."

Access RDI's Applied Material Research Report at:
https://ub.rdinvesting.com/news/?ticker=AMAT

Advanced Micro Devices, Inc. shares closed up 11.65% on strong volume on Tuesday after the company's CEO unveiled the formal branding for Advanced Micro Devices' server chip the "Epyc" at its annual analyst day meeting at its headquarters in San Jose. According to Su, the chip is now "the single biggest growth opportunity" in chips in the data center market. It looks like investors were encouraged by this statement and even by the one the company's CTO Mark Papermaster made. He said AMD is "back in high performance and we're back to stay!" He also said, "We did not work for the last four years to get back in high performance for there to be any skip in our performance." The new AMD will be working on shipping our current CPU, and on developing the next two generations at any point in time. That's our commitment to our customers. We want to be a completely bankable supplier."

Access RDI's Advanced Micro Devices Research Report at:
https://ub.rdinvesting.com/news/?ticker=AMD

Our Actionable Research on Applied Materials, Inc. (NASDAQ: AMAT) and Advanced Micro Devices, Inc. (NASDAQ: AMD) can be downloaded free of charge at Research Driven Investing.

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