AMD Stock Surges On Citigroup Upgrade Ahead Of 'Advancing AI' Event

Advanced Micro Devices Inc AMD saw its stock price climb over 4.5% on Monday, trading at $121.70 by mid-afternoon. The surge followed a positive revision from Citigroup, which maintained its Buy rating and increased its price target for the semiconductor giant from $100 to $120 per share.

What To Know: The analyst price increase comes just days before AMD’s highly anticipated “Advancing AI” event on Thursday. At the event, CEO Lisa Su and other industry leaders are expected to unveil AMD’s vision for the future of artificial intelligence, including updates on its end-to-end AI solutions and product ecosystem.

The full-day event will feature sessions for developers, customers and business leaders, with major sponsors including Dell, Lenovo and Oracle.

Read Also: Robinhood Stock Is Falling Monday: What’s Going On?

Investor optimism is also buoyed by AMD's recent strategic moves. Last week, the company announced the acquisition of Brium, a team specializing in AI software and compilers, to bolster its software capabilities. The move followed the purchase of Enosemi to advance co-packaged optics innovation.

These acquisitions are part of a broader strategy to enhance AMD’s AI platform. The company recently reported strong first-quarter earnings and provided an optimistic revenue forecast for the second quarter.

Read Also: Rocket Lab, AST SpaceMobile Shares Are Surging Monday: What’s Fueling The Move?

How To Buy AMD Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Advanced Micro Devices’ case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, AMD has a 52-week high of $187.28 and a 52-week low of $76.48.