Analysts reset AMD stock price target ahead of key earnings
Analysts reset AMD stock price target ahead of key earnings originally appeared on TheStreet.
Advanced Micro Devices (AMD) stock is on the rise as the chipmaker gains momentum in the AI race, following months of lagging behind Nvidia (NVDA) .
It was reported earlier this week that AMD is thinking of raising the price of its Instinct MI350 AI accelerator to $25,000 from $15,000, according to Wccftech’s report citing HSBC’s analyst note.
The nearly 70% increase in MI350’s price could mean a notable growth in AMD’s future revenue. The price increase indicates that AMD is seeing demand for its AI products, the report said.
AMD’s stock had tumbled in 2024 and earlier this year on concerns about trading uncertainties…
