Advanced Micro Devices (AMD)

Jan 26, 2023Trade Ideas

Earlier this month, we mentioned Advanced Micro Devices (AMD), as it traded at $66.67.

In fact, at the time, we noted AMD “could potentially test $75 a share, near-term. Helping, Wells Fargo just named AMD one of its top tech picks for the new year. Even better, AMD just launched its new AI-powered PC chips at CES 2023.”

Today, AMD trades at $74.91. From here, if it can break above resistance around $80, it could potentially test $85, even $90 next. Analysts at Mizuho have a buy rating on the stock, with a price target of $95 a share. “The analyst is optimistic about its data center server chip business and predicts it can outperform current expectations,” says Barron’s.


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