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Buy AMD! Buy AMD! – Robertson Stephens

Intel rival on a roll

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AMD will continue to steal marketshare away from Intel, so it's really worth buying its stock. Now.

That's the message from Wall Street watcher Robertson Stephens, following a pep-talk from AMD's senior staffers. The company said again that it rates AMD's stock as a 'buy'.

AMD shares closed at $31 last night.

According to RS, AMD has a "solid processor roadmap, superior price/performance versus Intel and flawless execution on process technology in Dresden". All of which, the company reckons, will lead to "continued market share gains".

RS' report to investors goes on: "We believe the company is taking the right steps to improve its positioning - particularly in the high-performance desktop and notebook markets... That should serve the company well in the second half of 2001 and beyond."

To that, add the low-end server space, targeted initially with the next-generation Athlon, Palomino. AMD has negligible marketshare in that arena or the mobile market, so even the smallest increase in sales is a real gain.

With Athlon competing nicely with the Pentium 4 on price and performance - as RS points out - yet capable of providing a smaller and, with Palomino, less power-hungry platform, AMD can start to make inroads into the mobile market, which is set to grow faster than the desktop business. The best Intel can field here are comparably clocked Pentium IIIs so, again, AMD is in a position to start grabbing marketshare from its arch-rival. ®

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