Shares of Advanced Micro Devices Inc rose nearly 7 per cent on Wednesday after the U.S. chipmaker's upbeat earnings showed that it was making up for a personal-computer slump with gains in the lucrative data center market.At least 11 analysts lifted their ratings on the stock, cheering results that defied
Shares of Advanced Micro Devices Inc rose nearly 7 per cent on Wednesday after the U.S. chipmaker's upbeat earnings showed that it was making up for a personal-computer slump with gains in the lucrative data center market.
Lisa Su-led AMD on Tuesday posted quarterly revenue that beat Wall Street targets, but its sales forecast for the three months to March 31 fell short of estimates by over $150 million. The data center market has slowed in recent months due to lower spending from recession-wary businesses, but AMD's faster and smaller chips have allowed it to gain ground on Intel.
J.P. Morgan pegged AMD's share gain in the server market this year at 5 to 7 per centage points to between 28 per cent and 30 per cent.
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