Advanced Micro (AMD) Gets 70% Upgrade, Hits All-Time High

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

Advanced Micro Devices extended its winning streak to a 4th consecutive day on Friday to hit a new all-time high, after an investment firm turned bullish for its stock, raising its rating and price target by 70 percent.

In a market note, DA Davidson recommended investors to “buy” shares of Advanced Micro Devices Inc. (NASDAQ:AMD), having been neutral previously. It also upgraded its price target to $375 from $220, or a 7 percent upside potential from its latest closing price.

Advanced Micro Devices Inc. (NASDAQ:AMD) climbed to its highest price of $352.99 in intra-day trading on Friday, before paring gains to finish the session up by 13.91 percent at $347.81 apiece.

According to DA Davidson, the coverage reflected its optimism for the listed firm’s increasing role in the accelerating data center buildout, citing a “structural increase in CPU demand.”

DA Davidson also pointed to Intel Corp.’s strong first-quarter earnings results as a signal that the CPU market is accelerating.

“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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