SOXQ - What's Going On With AMD Stock Tuesday? | Benzinga
Today, Advanced Micro Devices, Inc (NASDAQ:AMD) announced the new AMD Ryzen PRO 8040 Series with x86 processors built for business laptops and mobile workstations, and the AMD Ryzen PRO 8000 Series desktop processor, the first AI-enabled desktop processor for business users constructed with the advanced 4-nanometer technology.
AMD stock price soared after the launch.
Gartner expects AI PC shipments to account for 22% of all PCs in 2024, with 54.5 million units of AI PCs to be shipped by the end of the year, CNBC reports.
Also Read: Microsoft Set to Unveil Qualcomm-Powered AI PCs, Aiming to Surpass Apple’s MacBook Air
Two analysts re-rated the stock today. HSBC analyst Frank Lee upgraded AMD from Hold to Buy with a $225 price target.
Evercore ISI Group analyst Mark Lipacis initiated coverage on AMD with an Outperform rating and a price target of $200.
The analyst noted AMD as a beneficiary of the Tectonic Shift in Computing to the Parallel Processing Era as it captures a greater share of server CPUs and share in the merchant accelerator market with its Mi300 series ...