Wedbush predicts Advanced Micro Devices stock will reach $200, citing growing demand and acquisitions

From Nasdaq: 2024-08-21 14:26:00

1. Rising demand for Advanced Micro Devices’ data center chips pushed the stock to $227, now at $157, offering an attractive entry point. Wedbush maintains a buy rating with a $200 price target, representing 27% upside.

2. Wedbush is optimistic about AMD’s acquisition of ZT Systems for AI infrastructure, potentially fueling growth and boosting the stock to previous highs.

3. Some see AMD’s ZT Systems acquisition as catching up to Nvidia in GPUs and AI systems, but Wedbush sees it as an opportunity in the growing $236 billion data center market.

4. Although AMD faces weak demand in gaming GPUs, its data center revenue surged 115% last quarter. The acquisition of ZT Systems should strengthen its position in the market.

5. Consider investing in Advanced Micro Devices as it may surpass analyst’s target once demand picks up. Stock Advisor recommends 10 top stocks with high returns potential.

6. Author John Ballard holds positions in AMD and Nvidia. The Motley Fool recommends and has positions in both AMD and Nvidia.



Read more at Nasdaq: Is Advanced Micro Devices Stock Going to $200? 1 Wall Street Firm Thinks So.