Why Advanced Micro Devices Surged Today
Shares of Advanced Micro Devices (NASDAQ: AMD) were rallying today, up 6% as of 12:47 p.m. ET.
There wasn't any meaningful news that came out of the company, as AMD reported earnings on May 2, in which it gave a lackluster forward outlook. However, some recent analyst commentary on the recovering PC market, as well as AMD's prospects in artificial intelligence, seem to be lighting a fire under the stock since then.
In addition, it's 13F season, in which leading hedge funds disclose their buys and sells from the previous quarter. AMD attracted some high-profile names in Q1 that may be causing more optimism today.
Source Fool.com
Advanced Micro Devices Inc. Stock
€412.90
-1.890%
Currently there is a rather positive sentiment for Advanced Micro Devices Inc. with 109 Buy predictions and 5 Sell predictions.
As a result the target price of 516 € shows a positive potential of 24.97% compared to the current price of 412.9 € for Advanced Micro Devices Inc..
