Advanced Micro (AMD) Climbs 25% as Analyst Goes Bullish, Hikes PT by 70%

Advanced Micro Devices Inc. (NASDAQ:AMD) is one of the 10 Stocks With Double-, Triple-Digit Returns.

Advanced Micro Devices climbed by 24.9 percent week-on-week, as investors gobbled up shares following an analyst’s bullish outlook for the company, having raised its price target by 70 percent.

On Friday alone, the stock climbed to an all-time high of $352.99, thanks to DA Davidson’s “buy” recommendation and a higher price target of $375 versus $220 previously.

DA Davidson said that its coverage reflected its optimism for Advanced Micro Devices Inc.’s (NASDAQ:AMD) increasing role in the accelerating data center buildout, citing a “structural increase in CPU demand.”

It also pointed to Intel Corp.’s strong first-quarter earnings results as having signaled the acceleration of the CPU market.

“We view Intel’s results as a precursor for a huge step-up for AMD’s CPU franchise and believe the structural shift toward [agentic] AI workloads is creating unprecedented demand for server CPUs,” DA Davidson said.

With CPU demand likely outstripping supply in the foreseeable future, Advanced Micro Devices Inc. (NASDAQ:AMD) can boost prices across its portfolio and widen profit margins, it noted.

Advanced Micro Devices Inc. (NASDAQ:AMD) is set to announce the results of its earnings performance in the first quarter of the year on May 5.

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