Advanced Micro Devices, Inc. (NASDAQ:AMD) is highlighted as one of the AI Stocks Analysts are Tracking Closely, with a reiterated “Buy” rating and $265.00 price target from UBS. The company is expected to perform well in Q3, with revenues likely reaching the high end of the $9 billion guidance.

UBS is bullish on AMD due to sustained GPU growth, strong AI spillover effects, and server upgrades. Data center GPU revenue is forecasted to hit $1.7 billion in Q3, with an estimated $9.3 billion in revenue for Q4. The company could potentially guide as high as $9.5 billion for Q4.

AMD develops and sells semiconductors, processors, and GPUs for various applications. While AMD is seen as a solid investment, some believe other AI stocks offer greater upside potential with less downside risk. For those interested in an undervalued AI stock, a free report is available.

For FQ4, UBS estimates AMD’s revenue to be $9.3 billion, potentially guiding as high as $9.5 billion driven by server upgrades and AI spillover. Data center GPU revenue is expected to reach $2.4 billion in Q4, with a bullish outlook for its multi-year data center GPU business.

Read more at Yahoo Finance: Analysts Stay Bullish on AMD as AI GPU Momentum Builds Ahead of Earnings