Advanced Micro Devices (NASDAQ: $AMD) Stock Rises 4% After Oppenheimer Gives It an Outperform Rating and Sets a $600 Target.
AMD shares climbed more than 4% to around $470 in Monday’s premarket trading after Oppenheimer upgraded the stock from Perform to Outperform and raised its price target to $600. Analyst Rick Schafer expects strong growth in AMD’s artificial intelligence business, projecting that data center revenue will increase 135% year over year in 2027 and account for approximately 85% of the company’s total sales.
The analyst also expects AMD’s AI GPU revenue to surpass its EPYC server CPU revenue in 2027, as demand for AI chips continues to grow. His forecast includes around 3 gigawatts of AI deployments in 2027 and 4 gigawatts in 2028. AMD recently reported record third-quarter data center revenue of $8.55 billion, up 97% from a year earlier, driven by demand for EPYC processors and Instinct AI accelerators.
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AMD shares climbed more than 4% to around $470 in Monday’s premarket trading after Oppenheimer upgraded the stock from Perform to Outperform and raised its price target to $600. Analyst Rick Schafer expects strong growth in AMD’s artificial intelligence business, projecting that data center revenue will increase 135% year over year in 2027 and account for approximately 85% of the company’s total sales.
The analyst also expects AMD’s AI GPU revenue to surpass its EPYC server CPU revenue in 2027, as demand for AI chips continues to grow. His forecast includes around 3 gigawatts of AI deployments in 2027 and 4 gigawatts in 2028. AMD recently reported record third-quarter data center revenue of $8.55 billion, up 97% from a year earlier, driven by demand for EPYC processors and Instinct AI accelerators.
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