Advanced Micro Devices ( (AMD) ) has been popular among investors this week. Here is a recap of the key news on this stock.
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Advanced Micro Devices (AMD) is making significant strides in the AI chip market, positioning itself as a formidable competitor to Nvidia. Top analyst Vijay Rakesh has reaffirmed an Outperform rating for AMD, citing its strong position as the second-largest AI chip maker and its promising product lineup, including the MI350 and MI400X chips. These advancements are expected to drive growth through 2025 and 2026. Additionally, AMD’s new Helios rack-scale system, developed in collaboration with Meta, is set to enhance its AI hardware capabilities. The company’s strategic partnerships with OpenAI and Oracle further solidify its role in the AI sector, with plans to deploy substantial GPU resources to power future AI infrastructure.
Investors have shown confidence in AMD’s trajectory, as reflected in the company’s impressive 95% stock gain year-to-date. Financial analysts, including Kevin Cassidy from Rosenblatt, anticipate AMD’s upcoming Q3 results to reflect continued growth, supported by strong data center sales and new product launches. With a Moderate Buy consensus from analysts and a projected 6% upside, AMD is poised to maintain its momentum in the expanding AI market, offering investors a promising opportunity in the semiconductor space.