Shares of Advanced Micro Devices (NASDAQ: AMD) have rocketed to 10-year highs after the company reported stellar second-quarter results that comfortably trumped Wall Street estimates.
AMD has been giving Intel (NASDAQ: INTC) sleepless nights as its Ryzen central processing unit (CPU) chips are eating into the latter's Market share.
AMD will start selling its Vega line of GPUs (graphics processing units) this month, targeting the high-end PC gaming market with its value-for-money offerings.
But investors should note that AMD needs to carve out just a small slice of the $20 billion server chip market pie in order to substantially boost revenue.
Some of its products have hit the market just recently while more are set to come, so investors can expect a stronger top line performance in subsequent quarters that could extend the company's momentum.
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