10 Must-Watch AI Stocks on Wall Street

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

Number of Hedge Fund Holders: 97

Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the 10 Must-Watch AI Stocks on Wall Street. On August 13, Mizuho analyst Vijay Rakesh raised the price target on the stock to $205.00 (from $183.00) while maintaining an Outperform rating.

The rating affirmation comes as Hyperscaler capex continues to tick higher, while China adds another tailwind.

“We are raising our SepQ rev/EPS estimates from $8.71B/$1.14 to $8.80B/$1.15 (cons. $8.71B/$1.17), F25E from $33.2B/$4.00 to $33.4B/$4.02 (cons. $33.1B/$3.96), F26E from $39.3B/$6.01 to $39.9B/$6.09 (cons. $40.1B/$6.03), F27E from $45.1B/$7.39 to $46.5B/$7.62 (cons. $47.0B/$7.59). F25/26/27E Instinct GPU revs from $8.51B/$11.5B/$13.2B to $8.57B/$11.7B/$13/6B (cons. $7.91B/$9.42B/$10.2B). Reiterate AMD at Outperform and raise PT to $205 (prior: $183), 33.7x (prior: 30.5x) as we see AMD benefiting from MI308 ramps in China, while MI355 provides opportunity for upside with MSFT expected to see strong F26E capex.”

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