Advanced Micro Devices Stock Upgrade
Shares of Advanced Micro Devices (NASDAQ: AMD) experienced a 2% increase on Tuesday, rising to $100 during morning trading, following an upgrade by investment bank Bernstein.
This marks Bernstein’s first buy recommendation for AMD in a decade, reflecting the firm’s renewed confidence in the semiconductor company. The upgrade comes after Bernstein acknowledged past misjudgments about AMD’s performance due to earlier execution issues and a declining PC market.
Currently, AMD trades at under 30 times near-term earnings per share, making it a relatively attractive option compared to competitors like Nvidia, which trades at over 60 times trailing earnings.
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