Wells Fargo has decided to maintain its Overweight rating of Advanced Micro Devices AMD and raise its price target from $85.00 to $120.00.
Shares of Advanced Micro Devices are trading up 2.28% over the last 24 hours, at $98.28 per share.
A move to $120.00 would account for a 22.1% increase from the current share price.
About Advanced Micro Devices
Advanced Micro Devices designs microprocessors for the computer and consumer electronics industries. The majority of its sales are in the personal computer and data center markets via CPUs and GPUs. Additionally, the firm supplies the chips found in prominent game consoles such as the Sony PlayStation and Microsoft Xbox. AMD acquired graphics processor and chipset maker ATI in 2006 in an effort to improve its positioning in the PC food chain. In 2009, the firm spun out its manufacturing operations to form the foundry GlobalFoundries. In 2022, the firm acquired field-programmable gate array leader Xilinx to diversify its business and augment its opportunities in key end markets such as the data center and automotive.
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