From Nasdaq: 2024-05-04 03:00:00

Shares of Advanced Micro Devices (NASDAQ: AMD) dropped after its first-quarter earnings announcement, with investors disappointed in the data center business outlook. KeyBanc analyst John Vinh lowered the price target to $230, though the firm remains bullish on AMD’s ability to capitalize on demand for GPUs due to AI. Is the stock headed to $230? Despite 80% year-over-year data center growth, AMD faces challenges with declines in other segments, leading to only 2% revenue growth. It’s unclear if the stock can reach the analyst’s price target without stronger overall growth. Should you invest in AMD? The Motley Fool Stock Advisor team has identified 10 top stocks, AMD not included. The service offers guidance on building a portfolio and has significantly outperformed the S&P 500 since 2002. *John Ballard holds AMD positions. Motley Fool recommends and has positions in AMD. (*Stock Advisor returns as of May 3, 2024)



Read more at Nasdaq: Is Advanced Micro Devices Stock Going to $230? 1 Wall Street Analyst Thinks So