Movement Alert｜AMD Rises 3.56% in Regular Trading, Buoyed by Multiple Analyst Upgrades and AI Compute Deals

Market Focus06-22 22:11

On June 22, AMD rose 3.56% in regular trading, trading at $550.91/share with turnover of approximately $3.586 billion. The stock continued its upward momentum following a series of bullish catalysts over the prior week.

Multiple Wall Street firms recently raised their price targets on AMD. Citigroup upgraded the stock from Neutral to Buy with a target of $575, citing AMD's GPU growth potential and its landmark multi-year supply agreement with Meta Platforms for 6 gigawatts of AI data center GPUs. Bernstein raised its price target from $525 to $600, maintaining an Outperform rating. Bank of America also lifted its target to $560.

Additionally, AMD announced the acquisition of MEXT, a developer of AI-powered predictive memory technology, to expand its full-stack compute capabilities. The company also signed a 30-megawatt AI compute deployment agreement with Rackspace Technology, covering global data centers through 2028. These moves reinforce AMD's positioning in the AI infrastructure buildout cycle.

Within the Semiconductors sector, Micron Technology rose 4.93%, Intel gained 3.22%, and NVIDIA advanced 1.53%.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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