MKM Partners Weighs In on Advanced Micro Devices, Inc. (AMD) and Intel Corporation (INTC) Ahead of Earnings


MKM Partners analyst Ian Ing is bullish on hardware giants Advanced Micro Devices, Inc. (NASDAQ:AMD) and Intel Corporation (NASDAQ:INTC).

Ian Ing is ranked #107 of 4,057 analysts on TipRanks and sustains a success rate of 69% with an average return of 17.6%. When rating AMD, the analyst maintains a 67% success rate with an average profit of 18.5%. When rating INTC, Ing retains a 75% success rate and realizes an average profit of 8.8%.

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Advanced Micro Devices, Inc.

Ahead of AMD’s earnings report tomorrow, MKM Partners analyst Ian Ing weighed in on the stock in a bullish manner.

The analyst believes that AMD will perform in the coming quarters. He explains the reasons for his bullishness being, “(1) a series of new product ramps that close the gap vs. the competition and (2) a backdrop of steadily improving PC demand.” Ing’s September EPS estimates remain unchanged at $0.01 above consensus, as he expects a “good enough” report given positive sentiments regarding the company’s upcoming earnings release.

The analyst believes that Q3 will mark a pivotal point in the market for discreet GPU’s and further believes that Q3 guidance will be supported by “semi-custom ramps, including run-rate gaming console and select new semi-custom opportunities.”

Ing maintains that the next hurtle for AMD to achieve will be sustained quarterly earnings in order to attract a new class of investors.

The analyst reiterates a Buy rating for AMD and with price target of $6.30.

According to TipRanks, the consensus target price for AMD is $4.23, marking a 22% downside from current prices. Currently, 38% of analysts issue a Buy rating for AMD, while 24% maintain a Hold rating, and 38% uphold a Sell rating for the stock.

Intel Corporation

Ian Ing also offers insights into Intel ahead of its earnings release today. The analyst reiterates a Buy rating for INTC, while slightly increasing the price target to $39 (from $38). Ing believes that his price target reflects recent improvements seen in the PC market. The analyst upholds that “INTC is regaining its ‘Mojo’.” This resumption of the company’s ‘Mojo’ comes with stabilizing client PCs and other successful proof that points toward further diversification.

The analyst affirms that DCG growth rates will be supported by new cloud apps. Ing states, “At the latest OpenStack conference, Network Function Virtualization running on cloud servers was among the fastest growing use cases over the past year, adopted by Verizon, Comcast, and China Telecom.” According to the analyst, “growth in cloud applications should help offset ongoing weak enterprise.”

TipRanks analytics exhibit Intel as a Moderate Buy with 67% of analysts issuing a Buy rating for INTC, 28% maintaining a Hold rating, and 5% of analysts upholding a Sell rating for the stock. The consensus target price for INTC is $36.17, marking a 2.90% upside from current prices.

Ian Ing is ranked #107 of 4,057 analysts on TipRanks and sustains a success rate of 69% with an average return of 17.6%. When rating AMD, the analyst maintains a 67% success rate with an average profit of 18.5%. When rating INTC, Ing retains a 75% success rate and realizes an average profit of 8.8%.