3 Chip Stocks to Note Now: Piper Jaffray Defends Intel, AMD Strikes Back at Nvidia, and Qualcomm Could Power the Next Kindle
Intel Corp. (NASDAQ:INTC): According to Piper Jaffray, “PCs are not going away anytime soon.” The bank upped its Sell rating to Neutral and jacked up the price target to $22 from $20 as analyst Gus Richard expects 2014 revenue growth in the mid-single digits, driven by a corporate refresh of Microsoft (NASDAQ:MSFT), the Windows 8.1 release, and the end of support for Windows XP. The company may also soon announce an accelerated schedule for production of upcoming Atom chips for smartphones and tablets, Barron’s suggests.
AMD (NYSE:AMD): AMD has called out rival company Nvidia (NASDAQ:NVDA) over recent criticisms over the future of console gaming. Nvidia maintains that mobile computing systems will outperform console devises in the foreseeable future, thus making investment in developing chips for these devices a waste of time. AMD doesn’t exactly see it that way. Robert Hallock, a spokesperson for AMD, told Gaming Bolt, that this kind of concern “seems a bit like sour grapes to me. The reality, according to industry legends like John Carmack, is that the standardization of console hardware will, in his words, make it cheaper and easier to develop games for multiple platforms.”
Qualcomm (NASDAQ:QCOM): Qualcomm, the maker of the increasingly dominant Snapdragon processing chips for mobile devices, could be getting a nice sales boost if speculation has it right. Benchmark results Amazon’s (NASDAQ:AMZN) next Kindle device shows that the CPU will be operating at among the fastest speeds available, leading to buzz that Qualcomm’s newest Snapdragon 800 processing unit will be powering the next evolution of the ever-popular kindle.
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