Advanced Micro Devices (AMD) is set to hold its “Advancing AI” event on Thursday, with analysts anticipating significant announcements that could boost the company’s stock and sales.
Analyst Optimism and Stock Performance
- 13 analysts have issued “buy” ratings for AMD stock
- 3 analysts have issued “hold” ratings
- The average target price is $190.56, suggesting an 11% potential increase
- AMD shares are up 15% year-to-date, closing at $171 on Monday
The company’s stock saw a nearly 20% rise following a similar event last December, indicating potential for significant movement after this week’s announcements.
Expected Announcements and Market Impact
Analysts anticipate AMD will unveil new products at the event, potentially including:
- Advancements in artificial intelligence technology
- New AI accelerator products
- Partnerships within the AI ecosystem
These announcements could help AMD gain market share in the AI accelerator space, where it competes with industry leader Nvidia.
The mention of “AI ecosystems partners, customers, and developers” in the event announcement has led analysts to speculate about potential new customer relationships, which could further evidence AMD’s growing market presence in the AI sector.
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