According to BMO Capital Markets, advanced microdevices will rebound as their underlying strength continues to improve. Analyst Ambrish Srivastava has upgraded the chipmaker to outperform market performance, saying in a note to clients that the company’s strong performance will result in profit-sharing relative to rivals. player. “We see a sustainable computer franchise as the result of continued superior performance on all fronts under the leadership of Dr. Su. “We are hearing continued momentum from our work around the industry and see AMD’s server market share continuing to expand. We are lowering our estimates, some due to near-term difficulties, but raising our target to $115 from $100.” According to BMO, AMD’s success may come at the expense of Intel. “Our view is that we see a path to sustainable equity returns against Intel … and we don’t need Intel to go wrong for the thesis to work. Our sense is with that. some of the key architectural innovations the company has made, writes Srivastava AMD was one of Wall Street’s hottest stocks from 2018 through the end of last year, with its shares surging. to more than $160 per share from around $10. However, AMD has underperformed this year, with its stock down 46%. BMO’s $115-per-share target is higher. 48% from Wednesday’s close – CNBC’s Michael Bloom contributed to this report.