(Reuters) - Advanced Micro Devices Inc (AMD) shares could double in a year as the chip maker recoups ground lost to Intel Corp and increases its market share in the graphic chips area dominated by Nvidia Corp, Barron’s said on Sunday.
AMD shares have already gained more than fivefold over the past year to a recent $12.24.
Analysts said those stock gains were due in part to the focus of the company’s chief executive, Lisa Su, on the company’s desktop and graphic chips, Barron’s said.
Without commenting on the Barron’s projection that the stock could double, Drew Prairie, a spokesman at AMD, said in an email that, “We have our strongest set of new products in more than a decade that we plan on releasing this year, which is why the heightened interest and focus on our momentum.”
Reporting by Scott DiSavino; Editing by Jonathan Oatis