Why Advanced Micro Devices Surged Today
Shares of Advanced Micro Devices (NASDAQ: AMD) were rallying today, up 6% as of 12:47 p.m. ET.
There wasn't any meaningful news that came out of the company, as AMD reported earnings on May 2, in which it gave a lackluster forward outlook. However, some recent analyst commentary on the recovering PC market, as well as AMD's prospects in artificial intelligence, seem to be lighting a fire under the stock since then.
In addition, it's 13F season, in which leading hedge funds disclose their buys and sells from the previous quarter. AMD attracted some high-profile names in Q1 that may be causing more optimism today.
Source Fool.com
Advanced Micro Devices Inc. Stock
The stock is one of the favorites of our community with 96 Buy predictions and 2 Sell predictions.
With a target price of 175 € there is a slightly positive potential of 10.37% for Advanced Micro Devices Inc. compared to the current price of 158.56 €.