Yes — by the numbers, Wall Street is treating Advanced Micro Devices (AMD -5.09%) as close to fully valued going into next week’s report. The average price target on the stock is $570.60, about 9% above Friday’s close of $521.95.
That cushion is thin for a stock this well-liked. Of the 51 analysts covering AMD, 41 rate it a buy, 10 rate it a hold, and none rate it a sell. Nearly everyone recommends the stock. Almost nobody’s math leaves room for much upside.
Additionally, published targets stretch from $320 to $1,250, so there’s no shortage of disagreement about where the chipmaker is headed. But the average lands close to where the stock already trades.
Image source: AMD.
The stock’s valuation multiple explains the caution. At about…
