Roth Capital Partners Analyst Krishna Shankar says Applied Micro Circuits Corporation (AMCC) is a good play on processors and network accelerators. He says AMCC is introducing a new 64-bit ARM-based server and system-level SoC chips targeting the $10 billion-plus data center server processor and SoC market.
“We believe that ARM-based server and SoC companies, over time, will likely capture market share from the Intel quasimonopoly within data center server processors,” Shankar says. “Intel currently has over 95% of the server processor market. AMCC is the early production ramp of its 64-bit ARM server SoC and claims multiple design wins with server, networking and Web scale service providers.”
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Shankar says AMCC’s stock has pulled back as a result of a decline in the legacy PowerPC business and softness and an inventory correction for their 10Gig Ethernet/OTN connectivity chips.
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