AMD wins big time with Wells Fargo

Posted by Nick Farrell

While many in the known universe have written off AMD, it seems the fabless chipmaker has been given the thumbs up by the former pony express courier Wells Fargo.

Now turned bankers and analysts, Wells Fargo have claimed that there is gold in them thar AMD hills and have claimed the outfit will outperform expectations this year.

In a report Wells Fargo said the chipmaker's shares will be worth $7. Given that you can pick up a second hand one on Ebay for $2.60 this a big job. It is also better than the $5 that Wells Fargo predicted the outfit would be worth a few months ago.

But, according to ZolmaxWells Fargo is a lone voice on AMD being a success story. Analysts at Credit Agricole reiterated an underperform rating and think that a share will only be worth $2.75.

Zacks think that the shares will be worth $2.50 price target on the stock.

Pessimists at BMO Capital Markets covered themselves with sack cloth and ashes and warned that the AMD shares will be worth $2.00 or an exchange for a used set of steak knives.

What looks fairly obvious is that  AMD investors might as well flip a coin or ask the cat rather than talk to analysts about the outfit's chances.