AMD Shares Surge 13% Following Oppenheimer Price Target Upgrade to $600
Advanced Micro Devices (AMD) saw its stock price jump over 13% following an upgrade from Oppenheimer analyst Rick Schafer, who raised his price target to $600. The bullish shift comes after AMD reported record data center revenue of $8.5 billion, a 97% increase year-over-year. Despite a recent pullback following earnings, the company's strong positioning in AI infrastructure and upcoming product roadmaps have restored investor confidence. Oppenheimer anticipates significant growth in AMD's data center segment, projecting it could reach 85% of total sales by 2027 as GPU revenue begins to overtake server CPU revenue. Major tech players including Meta, Microsoft, Oracle, and OpenAI are identified as key drivers for demand. With a roadmap featuring new AI chips like the MI500 and MI600, AMD is positioned to capitalize on massive increases in global data center capital expenditure.
Tickers: $AMD $GOOGL $INTC $META $MSFT $NVDA $ORCL
Topics: Analyst Upgrade Data Center Revenue Semiconductors Stock Price Movement
Read the full article at TheStreet
Part of the story Advanced Micro Devices (AMD) Positioned for Growth Toward $1 Trillion Market Cap via AI Expansion (5 articles)