10 AI Stocks Getting Wall Street’s Attention

7. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Number of Hedge Fund Holders: 97

Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the 10 AI Stocks Getting Wall Street’s Attention. On June 16, Piper Sandler analyst Harsh Kumar raised the price target on the stock to $140.00 (from $125.00) while maintaining a “Overweight” rating. The firm cited growing optimism in the company’s graphics processing unit (GPU) segment and confidence in its ability to continue driving strong results behind the price target raise.

Piper Sandler is optimistic about AMD’s latest product launches, particularly the new Helios rack system. It believes the system could boost growth in AMD’s Instinct AI accelerator business. The firm made these comments shortly after the company revealed its new MI350 AI chips and previewed the upcoming MI400 series.

Kumar also highlighted AMD’s biggest segment, its client business, which is starting to show signs of improvement. The company’s “pull-ins” reflect how customers are ordering earlier than expected. Kumar further added that AMD’s GPU business could revive by the fourth quarter of Fiscal 2025 once China-related issues resolve.

To conclude, investors are confident about AMD’s strategy and upcoming AI products. The firm’s revised forecast suggests that the company can sustain ground in the competitive semiconductor market.

Advanced Micro Devices, Inc. (NASDAQ:AMD) develops and sells semiconductors, processors, and GPUs for data centers, gaming, AI, and embedded applications.