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Why AMD Stock Jumped Today

TheMotleyFool

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Why AMD Stock Jumped TodayPhoto, wide shot, wide-angle lens, Cloud computing provider, sunset photo at golden hour, photo by Thomas Heaton: https://img.theapi.app/temp/8d7b6619-8b3b-4e9e-b659-68643d72528e.png

Shares of Advanced Micro Devices (NASDAQ: AMD) climbed on Tuesday, following positive analyst commentary. As of 3:15 p.m. ET, AMD's stock price was up 4.2% after rising as much as 7.7% earlier in the day.

UBS analyst Timothy Arcuri placed a buy rating on AMD's stock on Tuesday. He sees the semiconductor leader's share price rising roughly 25% to $95.

After a sharp downturn in the personal computer (PC) market in 2022, Arcuri believes sales of central processing units (CPUs) are poised for a rebound in 2023. In turn, Arcuri thinks AMD and other computer hardware makers are poised to outperform the stock market averages as the PC industry recovers.

Source Fool.com

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