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Why AMD Stock Surged Today

TheMotleyFool

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Why AMD Stock Surged TodayPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, Midday, harsh overhead sunlight, directional sunlightt, photo by Marc Adamus: https://img.theapi.app/temp/012f8213-0bd1-4831-98f2-6d5fae956d6a.png

Shares of Advanced Micro Devices (NASDAQ: AMD) jumped on Monday, following bullish analyst remarks. By the close of trading, AMD's stock price was up more than 9%.

Barclays analyst Blayne Curtis placed an overweight rating on AMD's shares. He sees the chipmaker's share price rising roughly 11% to $85.

Curtis expects AMD to wrestle away market share from rival Intel (NASDAQ: INTC). AMD's high-performance and energy-efficient EPYC processors are particularly well suited for the massive data center industry. Intel is the current leader in the global server market, but it's been steadily losing ground to AMD in recent years.

Source Fool.com

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