AMD Stock Performance in 2024 📈
Throughout this year, semiconductor companies have seen significant growth in the stock market, largely due to their involvement in the AI boom. While Advanced Micro Devices (AMD) may not have reached the level of success of its competitor, Nvidia, it has still managed to perform well. Since January 2, AMD’s stock has increased by 32.30%. In the last 30 days alone, the company’s stock has risen by over 15%, with further boosts expected following its acquisition of Silo AI. As of now, AMD’s stock price stands at $183.34.
Analysts’ Outlook on AMD Ratings and Price Targets 🎯
Despite not meeting the standards set by some industry giants, Wall Street analysts remain optimistic about AMD’s future. In July 2024, seven investment firms revised their price targets for AMD:
- All but two of the revisions saw an increase in the predicted upside.
- KeyBanc lowered its target from $230 to $220 but maintained a ‘buy’ rating.
- Stifel Nicolaus kept its price target at $200 and also endorsed a ‘buy’ rating.
Predictions for AMD Stock Upside 🔮
Several major financial institutions have expressed positive sentiments regarding AMD’s potential for growth:
- Wells Fargo raised its price target from $195 to $205 and upheld a ‘buy’ rating.
- DBS Bank increased its target from $187.4 to $227.2 based on factors like the price-to-book value ratio.
- Roth MKM raised its price target to $200, emphasizing the benefits of recent acquisitions.
- TD Cowen justified its $210 target with optimistic growth forecasts.
- Oppenheimer, however, maintained a ‘hold’ rating and cautioned about limited upside potential.
Hot Take: What’s Ahead for AMD Stock? 🌟
As you watch the semiconductor market evolve, keep an eye on AMD’s performance. Analysts are anticipating further growth for the company, driven by recent acquisitions and strong growth prospects. Despite some cautionary notes, the overall outlook for AMD remains positive, making it a stock worth monitoring for potential investment opportunities.
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