Advanced Micro Devices (AMD) just blew past our target price of $100. Last trading at $102.05, we’d like to see it closer to $110. All it has to do now is break through resistance around $103.86, and it could potentially happen.
We have a good history with AMD.
Over the last few weeks, we noted, ““Advanced Micro Devices (AMD) is on the move, as hoped. The last time we mentioned the stock, it traded at $66.67. We also mentioned, AMD could potentially test $75 a share, near-term. Today, the stock is up to $88.06, and could run back to $100, if it can break above double top resistance around $88.80.”
Better, Raymond James just raised its price target on AMD to $115 from $100.