"UBS Boosts AMD Stock Ahead of Earnings, Hits All-Time High"
AMD stock is trading higher as UBS analyst Timothy Arcuri raises estimates and price target, citing confidence in AMD's data center GPU revenue opportunity and significantly raising calendar year 2024 and 2025 estimates and price target to $220. Recent channel and customer checks confirm firm demand commitment for ~400k+ MI300A/X units for 2024, with Arcuri confident in the units' reality and AMD's capacity to compete with Nvidia. The analyst sees AMD annualizing $6+ in EPS exiting this year and pushing $8 annualized by the second half of 2025, and believes the stock can continue to rise through the year.