Advanced Micro Devices Shares Rise After Raymond James Upgrades Stock to Strong Buy

Raymond James upgraded AMD to Strong Buy, forecasting the server CPU market to reach $201 billion by 2030, driven by AI workloads. The firm highlights AMD's earnings leverage and market-share gains, with agentic AI as a key growth driver. Nvidia's $200 billion estimate is aligned, while Intel faces share loss risks. Arm is noted for server royalty growth.

Raymond James upgraded AMD to strong buy, raising its price target to $641 from $565, citing potential market share gains over Intel. The firm expects AMD to overtake Intel in the CPU market by 2027, driven by AI and datacenter demand. AMD's stock is up 113% YTD, with a 30% x86 processor market share in Q2, per PCMag.

U.S. stock futures rose ahead of inflation data and Nvidia's earnings. AMD gained 2.5% after an upgrade to Strong Buy and a price target raise to $641. Bloom Energy surged 6.4% following Nancy Pelosi's new position disclosure. Brenx and T3 Defense also saw significant premarket moves.

Advanced Micro Devices (AMD) stock rose 2.5% in pre-market trading after Raymond James upgraded it to Strong Buy with a $641 price target, citing attractive valuation and long-term AI growth potential. The firm projects the AI server CPU market to reach $201 billion by 2030. Broader semiconductor sector strength and positive market sentiment also contributed to the rally.

BMO Capital initiated coverage of AMD with an Outperform rating and $550 target. The company's Helios AI platform, set to ship in September, has secured deals with OpenAI, Meta, and Anthropic. AMD reported $11.54B in Q2 revenue, up 50% YoY, and beat EPS estimates. Analysts' average price target is $546.95, with a Moderate Buy consensus.

AMD's stock is down 3.58% to $456.29, and 12.58% over the past month, though analysts' price targets range from $200 to $755. The company's Q2 revenue beat estimates, with datacenter revenue growing 107% YoY. Technical indicators show a short-term selloff but a long-term uptrend. Analysts are divided, with a consensus leaning bullish.