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Fly News Breaks for December 31, 2019
XLNX, MU, AMD
Dec 31, 2019 | 06:14 EDT
Rosenblatt analyst Hans Mosesmann picks Buy-rated AMD (AMD), Micron (MU), and Xilinx (XLNX) - in that order - as his top 3 stocks in Semiconductor space heading into 2020, maintaining his respective price targets of $65, $100, and $165. For AMD, the analyst expects to see continued momentum of gains in CPU market share along with limited competitive threat slowing its upcoming 7nm mobile Ryzen chip. Mosesmann calls Micron an "ultimate large cap semi cycle play" while pointing to clear incremental market signals of shortages in server DRAM and NAND SSDs when the company last reported earnings this month. For Xilinx, the analyst expects 2020 to be a "spectacular" recovery year after a series of challenges in 2019 related to trade issues, Huawei ban, lumpiness around AI/data center acceleration, and 5G ASIC conversion, though he also warns that the stock may be in the "penalty box" until the December-quarter results are out.
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