7/1012 sources · 10 publishersUpdated Nov 9, 22:46 UTC
AMD stock jumps after Oppenheimer upgrade to Outperform and Google Cloud selects EPYC processors
+9 new sources since this summary was written
Analyst Oppenheimer upgraded Advanced Micro Devices to Outperform and set a $600 price target, citing the company's record third‑quarter results. On the same day AMD announced that its fifth‑generation EPYC CPUs will power Google Cloud's new TPU 8tx system. The combined news lifted AMD shares from the low $400s to above $500, closing at $508.58.
Why it matters
The $600 target suggests an upside of about 18% from current levels, according to Oppenheimer. The Google Cloud partnership expands AMD's data‑center footprint, supporting its strong revenue growth outlook.
Key facts
- 1Oppenheimer upgraded AMD to Outperform and set a $600 price target. investing.com
- 2AMD shares rose 8.9% intraday, reaching $488.90. investing.com
- 3AMD shares recovered roughly 25% in two sessions, climbing from $402 to above $500. fxleaders.com
- 4Q3 revenue was $13.38 billion, up 45% year over year. fxleaders.com
- 5Adjusted Q3 earnings were $2.09 per share. fxleaders.com
- 6AMD forecast Q4 revenue of approximately $17 billion, plus or minus 3%, implying about 66% YoY growth. fxleaders.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.