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) has seen a positive surge in its stock following the announcement of a collaboration with Microsoft to develop gaming-optimized chips for the next Xbox. This partnership aims to enhance gaming experiences by combining the power of Ryzen and Radeon technologies, with a focus on backward compatibility for older Xbox titles. The news has positively impacted AMD’s stock, which rose by 1.43% on the day of the announcement, although it remains down over the past year.
In addition to its gaming ventures, AMD is making strides in the AI sector. The company recently unveiled its MI350 AI chips and previewed the MI400 series, which are expected to drive growth in its AI accelerator business. Piper Sandler has increased its price target for AMD to $140, reflecting optimism about the company’s future prospects, particularly in the AI and gaming markets. Analysts maintain a Moderate Buy consensus on AMD stock, with a potential upside of 1.9%, indicating cautious optimism among investors.