Why AMD Stock Jumped Today
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
