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AMD Stock Price Prediction: Record earnings, but the stock is stretched and buyers need to prove it

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AMD Stock Price Prediction: Record earnings, but the stock is stretched and buyers need to prove it

AMD (AMD) followed a strong third quarter with a fresh wave of bullish analyst action, including Oppenheimer’s upgrade to outperform and a $600 target. At the same time, the technical tape shows th...

AMD’s third quarter gave bulls a real fundamental hook. According to AMD’s Nov. 3 release, revenue reached $13.4 billion, non-GAAP EPS came in at $2.09, and data center revenue rose 97% year over year on record sales of Instinct GPUs and EPYC CPUs. Lisa Su said the company delivered a record quarter and that data center sales nearly doubled year over year, which matters because that business is the clearest driver of the current re-rating narrative.

That result was followed by more constructive Street commentary. On Nov. 4, CNBC reported Goldman Sachs trimmed its price target to $675 from $700 while keeping a Buy rating. On Nov. 9, CNBC also reported Oppenheimer upgraded AMD to outperform from perform and set a $600 target, saying it sees AMD emerging as a durable supplier of AI compute with multi-gen customer wins and Helios rack-scale solutions. Those targets reinforce that Wall Street is still anchored to the data center and AI buildout story, even after the stock’s recent volatility. citeturn0search0turn0search1

The current technical structure is mixed rather than cleanly bullish. 86. 36% above the 20-day average.



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