Advanced Micro Devices (NASDAQ: AMD) is gaining momentum in the market, particularly following its AI event in early June, with analysts reiterating or increasing price targets for the stock. Notably, analysts expect substantial growth of nearly 40% in the upcoming FQ2 earnings report expected in late July.
Analyst revisions indicate increased confidence in AMD’s potential to capture market share from NVIDIA, with Melius upgrading AMD to Strong Buy from Hold and setting a target of $175, while CFRA upgraded to Strong Buy from Buy with a target of $165. The demand for AMD’s products, particularly in AI and GPU technology, is being amplified by recent partnerships.
Key price resistance is noted at $147.50; analysts suggest that crossing this threshold could move the stock towards a range of $175 to $185. The shift in analysts’ sentiment and AMD’s performance indicate a pivotal moment for the semiconductor company.
