AMD Stock Forecast: When It Could Reach $180 According to Analysts
Tuesday, 13 August 2024, 11:00
AMD's Stock Performance and Analyst Predictions
After a recent pullback in the broader technology sector, Advanced Micro Devices (NASDAQ: AMD) stock has faced challenges. However, analysts believe strong performance in its data center and client segments will facilitate recovery.
Q2 Earnings Report Highlights
- Revenue Growth: 9% increase, reaching $5.84 billion.
- EPS Improvement: Adjusted EPS rose by 19%, hitting $0.69.
Strategic Moves in AI
To bolster its position in the AI market, AMD acquired Silo AI, Europe's largest private AI lab, for $665 million.
Analyst Price Targets
- Morgan Stanley's Target: Raised from $176 to $178, maintaining a 'hold' rating.
- Phillip Securities Target: Assigned a 'buy' rating with a price goal of $180.
- Varied Analyst Opinions: Some analysts have lowered their projections, yet the overall outlook remains positive.
Overall, while a few analysts have expressed caution, the prevailing sentiment is optimistic, as reflected by a majority recommending AMD as a 'buy'.
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.