Advanced Micro Devices: Insights on Wall Street's Optimistic AMD Predictions
Wall Street's Predictions for AMD
As the October 10 artificial intelligence (AI) event nears, where Advanced Micro Devices (NASDAQ: AMD) plans to unveil key updates, analysts express optimism regarding AMD stock price for the coming year. Recent assessments indicate an average target of $188.04, reflecting a potential increase of over 15% from current levels.
Analyst Ratings and Targets
- Lowest price target: $150 (-8.03%)
- Highest price target: $220 (+34.90%)
- Majority rating: Strong Buy, with 25 analysts recommending a Buy and only six advising to Hold.
Recent insights from Bank of America's Vivek Anya predict that the forthcoming AI event could reinvigorate AMD stock, suggesting potential growth towards a 30-55x forward price-to-earnings ratio.
Notable price targets include:
- Aaron Rakers from Wells Fargo: $205
- Toshiya Hari from Goldman Sachs: $175
Current AMD Stock Performance
Currently, AMD stock trades at $163.09, reflecting a 0.69% gain on the day. Despite fluctuations, AMD shows a 17.69% increase year-to-date. Analysts highlight AMD's promising positioning in the AI segment, indicating potential for an upswing as technology demands evolve.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.