Rosenblatt Reiterates Buy on Advanced Micro Devices (AMD), Sets $250 PT Amid Growth Outlook

Advanced Micro Devices Inc. (NASDAQ:AMD) is one of the best NASDAQ growth stocks to buy for the next 5 years. On October 22, Rosenblatt Securities analyst Kevin Cassidy reiterated a Buy rating on Advanced Micro Devices/AMD and set a price target of $250.00.

Earlier on October 13, Mizuho raised the firm’s price target on AMD to $275 from $205 with an Outperform rating. The company’s partnership with OpenAI is estimated to be worth between $90 billion and $100 billion through the year 2030. However, the firm cautions that the issuance of 160 million warrant shares could potentially dilute the company’s gross margins.

Rosenblatt Reiterates Buy on Advanced Micro Devices (AMD), Sets $250 PT Amid Growth Outlook

Earlier on October 6,  AMD and OpenAI announced a multi-year partnership centered on deploying 6GW of AMD GPUs to power OpenAI’s next-gen AI infrastructure. The multi-generational agreement is set to combine AMD’s strength in HPC with OpenAI’s leadership in GenAI. The first major phase of this deployment, consisting of an initial 1GW, will use AMD Instinct MI450 Series GPUs and is scheduled to begin in H2 2026.

Advanced Micro Devices Inc. (NASDAQ:AMD) operates as a semiconductor company worldwide. It operates in three segments: Data Center, Client and Gaming, and Embedded.

While we acknowledge the potential of AMD to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AMD and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.