AMD shares rise after William Blair upgrade amid Nvidia CEO resignation
AMD stock jumped about 6% on November 12 after William Blair upgraded the company to Outperform, citing strong earnings outlook and potential market‑share gains. The move coincided with Nvidia’s chief executive Jensen Huang stepping down, which sparked a broader sell‑off in Nvidia shares. AMD reported third‑quarter revenue of $13.38‑$13.4 billion, a 45% year‑over‑year increase, and data‑center revenue that nearly doubled. Management projects fourth‑quarter revenue of roughly $17 billion, with a possible variation of $300 million, and expects overall revenue growth to exceed 80% in 2027.
Why it matters
William Blair’s upgrade signals analyst confidence in AMD’s earnings trajectory, which could support higher share prices; the consensus target of $659 is 12% above the current level. The Nvidia leadership change may shift investor focus toward AMD as a rival AI‑chip supplier, potentially expanding its market share.
Key facts
- 1AMD shares rose about 6% on November 12. finance.yahoo.com
- 2William Blair upgraded AMD to Outperform from Market Perform. finance.yahoo.com
- 3Nvidia CEO Jensen Huang resigned on the same day. coinpedia.org
- 4Third‑quarter revenue was $13.38 billion, up 45% YoY. coinpedia.org
- 5Data‑center revenue grew 97% in the quarter. coinpedia.org
- 6Management expects fourth‑quarter revenue of roughly $17 billion, with a possible variation of $300 million. coinpedia.org
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.