Wall Street has not been shy about backing Advanced Micro Devices (AMD) lately, and two prominent analysts have just added even more fuel to the fire. Rosenblatt analyst Kevin Cassidy raised his price target on AMD stock ahead of the company’s Advancing Artificial Intelligence (AI) event on Wednesday, July 22 and Thursday, July 23, calling it his firm’s top semiconductor pick. 

Cassidy believes Advanced Micro’s momentum has plenty of room to run. He expects revenue from Extended Performance Yield Computing (EPYC) server CPUs to surge more than 70% year-over-year (YOY) while generating margins comfortably above the company average. 

He also sees…