AMD Climbs to 7th in WSB Rankings as Analysts Boost Price Targets Amid Strong Financials
AInvestThursday, Nov 7, 2024 6:02 am ET
1min read
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Advanced Micro Devices, Inc. (AMD) has achieved the 7th position in the latest WSB ranking, marking an advancement of one position since the previous day. The stock continues its upward trajectory, posting a gain of 2.43% and consolidating a two-day rally that brings its cumulative increase to 3.12% over the past two days.

On October 30, TD Cowen reiterated its "Buy" rating on AMD, setting a new price target of $185. This optimism comes on the heels of AMD's recent third-quarter report for 2024, which closes on September 28. The company reported revenues of $18.127 billion with a net profit of $1.159 billion, translating to a basic earnings per share of $0.72. This performance showcases AMD's robust financial health and continued resilience in the competitive semiconductor sector.

Founded on May 1, 1969, AMD is recognized as a global leader in the semiconductor industry, with a footprint that extends across the globe. Specializing in x86 microprocessors for the commercial and consumer markets, the company also provides embedded microprocessors, chipsets for desktops and laptops, and a range of video, graphics, and multimedia products tailored for personal media computers, professional gaming workstations, and servers.

Cantor Fitzgerald, on the same day, maintained its "Overweight" stance on AMD, with a price target set at $180. Echoing this sentiment, Evercore ISI Group also maintained an "Outperform" rating, projecting an even more ambitious price target of $198. These ratings reflect a strong confidence among analysts in AMD's strategic direction and market position.

AMD continues to leverage its extensive product portfolio to meet consumer demands, highlighting its expertise in producing advanced computing technologies. The company's consistent performance and strategic initiatives underscore its capacity to adapt and thrive in a rapidly evolving industry landscape.

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