The pullback in Advanced Micro Devices (AMD) may be an opportunity.

In its most recent quarter, the company reported EPS of $1.05, which beat expectations for $1.03.  Revenue came in at $6.55 billion, which beat forecasts for $6.53 billion.  Unfortunately, AMD said it expects to see $6.7 billion in revenue for the current quarter, which falls under expectations for $6.83 billion.

That forecast is why the stock took a dive.

However, it may also present us with an opportunity.  In fact, as noted by Barron’s, “Analysts believe the chip maker’s second-quarter financial results show increasing long-term value despite the current difficulties in the personal-computer market.”

Rosenblatt analysts just reiterated a buy on AMD, with a price target of $200 a share.

“We like the setup going forward,” they said, as also quoted by Barron’s. “On potential weakness on macro-PC issues today we would back up the truck as a planetary alignment never seen in Silicon Valley is approaching the x86 world,” pointing to the possibility that AMD could gain market share from Intel with superior products.

Analysts at Bernstein also reiterated an outperform rating on the AMD stock, with a price target of $135 a share.

In short, crisis may be an opportunity with AMD.