Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the High Flying AI Stocks This Week. On August 6, Stifel analyst Ruben Roy raised the price target on the stock to $190.00 (from $161.00) while maintaining a Buy rating.
The rating affirmation follows AMD’s quarterly report, particularly its above consensus Q2 revenue of $7.7B which was backed by strong EPYC and Ryzen CPU sales.
According to the firm, AMD is “a strong participant in AI compute.”
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“We continue to believe that key drivers over coming quarters include MI35x/400 series scaling to more significant revenue AI revenue, continued EPYC share gains in cloud/enterprise, sovereign AI deals (e.g., HUMAIN collaboration), ROCm software enhancements, and potential MI308 China sales post-licensing. We continue to view AMD as a strong participant in AI compute. Modestly increasing estimates, target price to $190.”
Advanced Micro Devices, Inc. develops and sells semiconductors, processors, and GPUs for data centers, gaming, AI, and embedded applications.
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