AMD Stock Nears All-Time High Amid AI Chip Demand

Analysts Predict Continued Growth, Setting Target Price at $200

AMD's stock reached a 52-week high of $158.74, nearing its all-time record of $164.46, driven by the demand for AI chips and optimism from analysts.
Analysts predict that AMD could benefit from the AI trend that tripled Nvidia's stock value in 2023, with Barclays setting the target price for AMD stock at $200.
AMD recently introduced the Instinct MI300X and Instinct MI300A, two specialized AI accelerators that can outperform Nvidia's H100 GPUs.
AMD could generate $4 billion in AI chip sales this year, according to Barclays analyst Tom O’Malley.
Despite the promising future prospects, KeyBanc analyst John Vinh highlighted weak demand for automotive and industrial chips.