Advanced Micro Devices (AMD) saw a 6.39% increase in its stock price following a bullish analyst upgrade and positive earnings preview. The company, which went public in 1980, has grown by 6,915%. Trading volume exceeded the three-month average by 25%, reaching 55 million shares.

AMD’s rise today was fueled by analyst reports predicting strong sales for its server CPUs and GPUs, with a price target raised to $270. Bank of America also expects a beat and raise in quarterly earnings, driven by robust data center sales. The stock is up 77% in the last year and trades at 34 times forward earnings.

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Read more at Nasdaq: Stock Market Today, Jan. 13: Advanced Micro Devices Jumps After Analyst Upgrade Highlights AI Server Chip Demand