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New research from one of AMD's biggest critics shows the chipmaker is gaining share in three key markets.
Susquehanna Financial Group released its latest PC-SIGnals report for the third quarter, which revealed rising share for Advanced Micro Device's chips in the desktop PC, laptop and graphics card markets.
"AMD is the winner of 3Q18 PC-SIGnals! Most data points for AMD were constructive, including better desktop share (+1.5% QOQ), better laptop share (+1.7% QOQ), and higher aftermarket GPU share (+4% QOQ)," analyst Christopher Rolland said in a note to clients Monday. AMD is "gaining share in both desktops and laptops as Ryzen ramp continues."
AMD's shares rose 9.2 percent Monday.
The firm's PC-SIGnals product uses big data analysis to aggregate product specifications from more than 2,000 desktops, 2,000 laptops and 1,000 graphic cards in the market. The report is intended to show share shifts among chipmakers and hardware companies before the end of each quarter.
Rolland is one of most bearish analysts covering AMD on Wall Street. He has a neutral rating and $14 price target for the company's shares, which is 49 percent below Friday's closing price.
AMD's stock is significantly outperforming the market this year. Its shares are up 166.3 percent year to date through Friday versus the S&P 500's 7.4 percent gain. The company's stock is the top-performing name in the S&P 500 this year.
In recent weeks, several Wall Street firms — including Bank of America Merrill Lynch, Cowen and Jefferies — have raised their price targets for the chipmaker's shares, citing AMD's process manufacturing advantage over Intel.