AMD Is Rising Above Competition, Gains Significant Market Share In MPU Units: Analyst

Citi analyst Christopher Danely reiterated a Buy rating on Advanced Micro Devices, Inc AMD.

Also Read: AMD To Surpass $2B GPU Revenue Target in 2024 - Analyst

Mercury Research released estimates for 3Q23 microprocessor shipments and market share this week. 

Total 3Q23 MPU units were up 12.2% quarter-on-quarter, above seasonality of down 1.9% Q/Q, driven by a recovery in notebook and desktop PCs. 

AMD gained market share over Intel Corp INTC and Arm Holdings Plc ARM. 

AMD gained 205 basis points and has 17.7% of the overall MPU unit share, while Intel lost 184 basis points and has 72.1%. 

ARM lost 21 basis points of unit share and achieved 10.2% in overall MPU unit share. 

Danely projects CY23 and CY24 EPS of $1.85 (consensus $1.83) and $3.20 (consensus $3.10).

Price Action: AMD shares traded lower by 1.62% at $116.64 on the last check Monday.