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Wells Fargo chip analyst David Wong today reiterates an Outperform rating on shares of Advanced Micro Devices (AMD), and a $5 to $7 “valuation range,” writing that the recently introduced “Kyoto” family of microprocessors for server computers is “evidence of good execution in bringing out interesting new processor products on a reduced R&D budget.”

http://blogs.barrons.com/techtraderdaily/2013/05/29/amd-kyoto-server-chips-evidence-of-focused-rd-says-wells/