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Advanced Micro Devices, Inc. (NASDAQ:AMD) is included among Billionaire Larry Robbins’ 10 Dividend Stock Picks.

Citi Calls AMD a Rising Force in the GPU Market, Upgrades Shares to Buy

On June 12, Citi upgraded Advanced Micro Devices, Inc. (NASDAQ:AMD) to Buy from Neutral. It also raised the firm’s price target to $575 from $460. The firm believes the upside from AMD’s graphics processing unit business is not fully reflected in the stock price. In a research note, analyst Atif Malik said AMD is “emerging as a legit second source” in the GPU market. Citi sees the company as well-positioned to capture the “lion’s share” of opportunities at Meta. The firm also believes investors continue to view AMD primarily as a central processing unit company, creating additional upside potential for the shares.

On June 11, BofA raised its price recommendation on AMD to $560 from $500. It reiterated a Buy rating. Based on the firm’s analysis and recent industry discussions at the BofA Global Tech Conference, it increased its calendar year 2030 server CPU total addressable market forecast to more than $170 billion from $125 billion. That implies nearly fivefold growth and a 37% compound annual growth rate between 2025 and 2030, according to the analyst.BofA views the emergence of agentic AI as a major demand driver that expands the CPU market opportunity and benefits both x86 incumbents and ARM challengers.

Advanced Micro Devices, Inc. (NASDAQ:AMD) is a global semiconductor company focused on high-performance computing and artificial intelligence (AI). The company operates through its Data Center, Client and Gaming, and Embedded segments.

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 this cheapest AI stock.

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