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AMD's Stock Soars as Goldman Sachs Increases Price Target

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Source: Yahoo Finance
AMD's Stock Soars as Goldman Sachs Increases Price Target
Photo: Yahoo Finance
TL;DR

Goldman Sachs analyst Toshiya Hari maintained a Buy rating on AMD and raised the price target from $137 to $157. Hari increased revenue estimates for 2024 and 2025, citing broad-based adoption of AMD's MI300 Data Center GPU in the cloud and enterprise markets. The analyst expects early success in Data Center GPUs to drive outperformance in 2024, along with a constructive year for AMD's server CPU franchise. Hari also believes that several other semiconductor companies, including Nvidia, Arm Holdings, and Micron Technology, are well-positioned to benefit from the ongoing build-out of data center AI infrastructure.

Topics:businessfinance#amd#data-center-gpus#finance#goldman-sachs#price-target-increase#revenue-estimates
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