“Keep an eye on oversold shares of Advanced Micro Devices (AMD),” we said on April 28.  

“After catching support around $77, the stock is now back to $96.64. From here, we’d like to see it retest $110 initially. Helping, analysts at Susquehanna are out with a new price target of $135 with a positive rating on the oversold stock. Plus, Cathie Wood’s Ark Invest just picked up 24,800 shares of AMD for just over $2.14 million.”

At the time, AMD traded at around $95. It’s now up to about $152 and could push even higher.

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Helping, AMD Executive Vice President and Chief Commercial Officer, Philip Guido, bought 8,800 shares of the stock for just under $1 million on May 20. 

Fueling more upside, analysts at HSBC just upgraded AMD to a buy rating with a price target of $200. “With performance comparable to Nvidia’s B200, we now believe the ASP for MI355 can be USD25k (vs previous assumption of USD15k),” said the firm, as quoted by Seeking Alpha. “We now expect that upside to FY26e AI revenue will lead to higher re-rating to AMD that is not fully priced in by the market despite the 14% share price rally post its AI day event.”

From its current price, we’d eventually like to see AMD at $200 and above.

Sincerely,

Ian Cooper