Evercore ISI analyst Mark Lipacis has maintained their bullish stance on AMD stock, giving a Buy rating today.
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Mark Lipacis has given his Buy rating due to a combination of factors that highlight AMD’s advancements in the AI sector and its growing influence among major tech companies. AMD’s recent Advancing AI event showcased significant progress in its ROCm software stack and its penetration into hyperscalers’ internal inferencing workloads. This progress aligns with the industry’s need to diversify AI chip suppliers, providing AMD with a strategic advantage.
Additionally, the production of the MI350 series, expected to offer substantial improvements in AI compute capabilities, and the expansion of AMD’s customer list to include major players like OpenAI and xAI, underline the company’s increasing traction in the market. The release of ROCm 7, optimized for reasoning and agentic AI, further enhances AMD’s performance offerings, while the company’s focus on supporting the developer community through initiatives like the Developer Cloud indicates a commitment to fostering innovation and adoption of its technology.
Lipacis covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Nvidia, and Intel. According to TipRanks, Lipacis has an average return of 23.3% and a 65.77% success rate on recommended stocks.
In another report released today, Barclays also maintained a Buy rating on the stock with a $130.00 price target.