As previously reported, Truist upgraded AMD (AMD) to Buy from Hold with a price target of $213, up from $173. Industry contacts have told the firm for the last few years that hyperscale customers deploying AI were experimenting with AMD’s technology as a “price check” to Nvidia (NVDA), “nothing more,” but contacts over the last month have increasingly noted that hyperscalers now are working with AMD in a partnership manner, the analyst tells investors. The firm, which notes that contacts indicate that hyperscale datacenter customers are now “expressing true interest in deploying AMD at scale,” sets a calendar year 2027 EPS estimate at $7.89.
Claim 55% Off TipRanks
Forget margin or options. Here's how the pros trade NVDAPublished first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMD:
- AMD upgraded to Buy from Hold at Truist
- Nvidia, AMD, Qualcomm in Focus as Saudi AI Firm Humain Builds Data Centers
- AMD Stock Slips Alongside New Radeon RDNA 5 GPU Leaks
- Will Nvidia Beat Expectations? Q2 Earnings Come Amid Bubble Worries and Chip Delays
- Morning News Wrap-Up: Monday’s Biggest Stock Market Stories!