On June 15, Advanced Micro Devices rose 5.11% in pre-market trading, trading at $534.99/share, with turnover of $23.08 million. The stock continues to gain momentum following a wave of major Wall Street upgrades.
The catalyst behind the move is Citi's upgrade of AMD from \"neutral\" to \"buy\" with a target price raised from $460 to $575. The analyst argued that the market is significantly underestimating AMD's GPU opportunity, noting that each gigawatt of power supply capacity corresponds to approximately $15 billion in AMD revenue. Citi highlighted that AMD is no longer just a CPU story, with GPU representing a formally emerging second growth engine powered by HBM4 integration.
The upgrade follows Bank of America raising its target from $500 to $560 and naming AMD its top CPU pick, as well as Goldman Sachs upgrading to \"buy\" with a $450 target citing agentic AI tailwinds for server CPUs and data center GPU upside into 2027. AMD's Q1 results showed revenue of $10.253 billion, up 37.85% year-over-year, with net income surging 95.06%. Market research data indicated AMD captured 33.2% server processor market share in Q1, with especially strong sales growth.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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