On May 17, we noted:

“After slipping from about $227 to a low of $141.16, Advanced Micro Devices (AMD) is starting to bounce back strong. Last trading at $162.37, we’d like to see it initially retest $180 near term. Helping, analysts at Jefferies just initiated coverage of AMD with a buy rating, with a price target of $190 a share. AMD also replaced Nvidia on the Wolfe Research Alpha List.”

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Days later, AMD would hit a high of $174.55 and pull back with the broader market.

But don’t let that weakness chase you from the stock. Instead, use it as an opportunity to buy more. With the artificial intelligence boom still heating up coupled with hot chip demand, AMD could easily see $200 again near term.


Ian Cooper