Advanced Micro Devices, Inc. (AMD) Stock Surges as Goldman Sees Big Earnings Coming

We recently published Ray Dalio Stock Portfolio: 10 Best Stocks to Buy. Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of Ray Dalio’s best stocks to buy.

On July 6, Advanced Micro Devices, Inc. (NASDAQ:AMD) shares rose 6.6% to $551.98 after Goldman Sachs raised its price target to $640 from $450. The firm reiterated a Buy rating. The analyst noted expectations for strong second-quarter earnings with solid guidance as well as sustained AI demand. The firm said the new target still implies about 16% upside despite the stock’s gain of more than 300% over the past year.

Analyst James Schneider wrote, “We see a constructive setup heading into the quarter driven by CPU demand for agentic AI and AI infrastructure spending.” He said Goldman expects AMD to report strong second-quarter earnings in August. Schneider also noted, “Comments on new customer engagement should drive 2027 data center estimates and the stock higher,” pointing to partnerships with Meta Platforms and OpenAI. He called Advanced Micro Devices, Inc. (NASDAQ:AMD)’s  Advancing AI event on July 22-23 a “positive catalyst” and said the company will likely present a constructive outlook for server CPU demand.

Advanced Micro Devices, Inc. (AMD) Stock Surges as Goldman Sees Big Earnings Coming

Advanced Micro Devices, Inc. (NASDAQ:AMD) is a leading semiconductor company working in high-performance computing and graphics solutions.

While we acknowledge the risk and potential of AMD as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AMD and that has 10,000% upside potential, check out our report about the cheapest AI stock.

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