AMD - AMD shares flex more muscle as analysts weigh in on Facebook chip deal

Advanced Micro Devices (NASDAQ:AMD) showed no signs of letting up, Monday, as the chipmaker's shares held onto their day's big gains and several analysts were upbeat about the company's new data center deal with Facebook (NASDAQ:FB). AMD (AMD) rose early, and remained up by almost 11% in late trading after the company said Facebook (FB) will use the company's Epyc processors as part of a big new data center expansion. AMD made the announcement at its virtual Accelerated Data Center Premiere event. Wells Fargo analyst Aaron Rakers said that along with announcing Facebook (FB) as an Epyc customer, AMD's (AMD) announcements provide "further evidence [and] confidence in AMD's strong and expanding data center positioning and roadmap." Rakers, who has an overweight rating on AMD's stock, raised his price target on company's shares to $180 from $145. Other analysts also weighed in on the deal with Facebook and its now-parent company, Meta. Analysts

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AMD shares flex more muscle as analysts weigh in on Facebook chip deal