Why AMD Stock Jumped Again Today
Advanced Micro Devices (NASDAQ: AMD) recorded another day of strong gains in Friday's daily trading. The semiconductor company's share price closed out the session up 5.3%, according to data from S&P Global Market Intelligence.
While there wasn't any business-specific news for AMD, its share price surged in conjunction with the latest bullish indicators for AI demand and growth opportunities. Dell published its fourth-quarter report after the market closed Thursday, and its results have spurred another round of bullish momentum for artificial intelligence (AI) stocks.
If Wall Street was looking for another reason to be bullish on AI stocks, Dell's Q4 report and guidance seems to have delivered it. The company recorded non-GAAP (adjusted) earnings of $2.20 per share on sales of $22.3 billion, beating the average analyst estimate's call for per-share earnings of $1.72 on sales of roughly $22.15 billion. Even better, the company indicated that it was seeing strong demand for its AI server products and that it expected this catalyst to drive strong performance through 2025.
Source Fool.com
Advanced Micro Devices Inc. Stock
The stock is one of the favorites of our community with 109 Buy predictions and 3 Sell predictions.
With a target price of 521 € there is a positive potential of 26.18% for Advanced Micro Devices Inc. compared to the current price of 412.9 €.
