Why Advanced Micro Devices Stock Popped 8% This Morning
Shares of semiconductor company Advanced Micro Devices (NASDAQ: AMD) were up 8.2% as of 10:45 a.m. ET Tuesday -- and it's no great secret why.
On Tuesday morning, not one, not two, but three analysts raised their price targets on AMD stock, citing decent performance in graphics processing units and a big boost to business as the artificial intelligence (AI) trend enters its "second wave."
AMD's biggest vote of confidence came from analysts at British bank Barclays, who nearly doubled their share price target on the semiconductor stock from $120 to $200. Barclays named AMD as a beneficiary of this second wave of AI interest as more customers jump on the bandwagon and begin looking for more suppliers of AI chips.
Source Fool.com