Citi Raises AMD Price Target Amid Outlook for $300 Billion CPU Market by 2030
Advanced Micro Devices (AMD) shares rose in premarket trading after Citi raised its price target on the stock to $800 from $575. The upgrade was based on a revised outlook that anticipates the global CPU market reaching $300 billion by 2030, driven by increased demand for computing power across various sectors. Citi's analysts highlighted AMD’s strong position in both consumer and enterprise markets as key factors supporting their upgraded forecast. With growing adoption of AI technologies and data centers requiring high-performance processors, the firm expects continued growth for companies like AMD that are well-positioned to meet these demands.
Tickers: $AMD
Topics: analyst upgrade CPU market growth stock price target