10 Trending AI Stocks on Wall Street’s Radar

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

Number of Hedge Fund Holders: 113

Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the 10 Trending AI Stocks on Wall Street’s Radar. On October 7, Morgan Stanley analyst Joseph Moore raised the price target on the stock to $246.00 (from $168.00) while maintaining an Equal Weight rating.

The firm lifted its 2027 datacenter GPU estimates for AMD from $13 billion to $20 billion, following management’s remarks about “tens of billions of annual AI datacenter revenue” in that timeframe.

The firm’s revised projections for 2027 now include revenue of $51.2 billion, up from $44.2 billion, and non-GAAP earnings per share of $8.82, up from $6.74.

The outlook is a reflection of rising demand for AI-related products and confidence in the company’s positioning within the data center market.

Its new price target now aligns AMD’s valuation with large cap AI-peers such as Broadcom and Nvidia. The bank believes that AMD has the potential to command an even higher valuation if it secures major AI customers.

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