Advanced Micro Devices Inc. (NASDAQ:AMD) is one of Hot Artificial Intelligence Stocks on Wall Street’s Radar. On October 7, Morgan Stanley analyst Joseph Moore raised his price target on the stock to $246.00 (from $168.00) while maintaining an equal weight rating.
The company raised its 2027 data center GPU estimates for AMD from $13 billion to $20 billion, following management’s comments about “tens of billions in annual AI data center revenue” in that time frame.
The company’s revised 2027 forecast now includes revenue of $51.2 billion, up from $44.2 billion, and non-GAAP earnings per share of $8.82, up from $6.74.
The forecast reflects high demand for artificial intelligence-related products and confidence in the company’s position within the data center market.
The new price target now aligns AMD’s valuation with large-cap AI peers like Broadcom and Nvidia. The bank believes AMD has the potential to get a higher valuation if it secures key AI customers.
Advanced Micro Devices, Inc. (NASDAQ:AMD) develops and sells semiconductors, processors, and graphics processing units for data centers, gaming, artificial intelligence, and embedded applications.
While we acknowledge AMD’s potential as an investment, we believe some AI stocks offer greater upside potential and carry less downside risk. If you’re looking for undervalued AI stocks that will also benefit significantly from the Trump-era tariffs and the reshoring trend, check out our free report on Best AI stocks for short term.
Read next: 10 AI stocks that investors are watching closely and 10 AI stocks shaping Wall Street’s next big rally
Disclosure: None.
https://s.yimg.com/ny/api/res/1.2/G3i3M42qiumMoibq6loYWw–/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD02NzM7Y2Y9d2VicA–/https://media.zenfs.com/en/insidermonkey.com/78ee81d4d8cbe53924c848faf9b29aa4
Source link