AMD Appoints Former Accenture CFO KC McClure to Board, Shares Rise 6%
Written by Emily J. Thompson, Senior Investment Analyst
Source: stocktwits
- Board Appointment: AMD announced the appointment of KC McClure, former CFO of Accenture, to its board, with expectations that her extensive financial leadership experience will enhance the company's strategic execution in high-performance and AI computing.
- Price Target Increase: Bernstein raised AMD's price target from $200 to $225 while maintaining a 'Market Perform' rating, reflecting an optimistic outlook on the company's future financial performance ahead of its quarterly results.
- Data Center Agreement: AMD signed a 10-year lease agreement with Riot Platforms for a data center that will initially provide 25 megawatts of IT load capacity, with options to expand to 200 megawatts, significantly strengthening AMD's competitive position in the data services market.
- Bullish Market Sentiment: Retail sentiment around AMD shares has been extremely bullish over the past 24 hours, with users predicting the stock could rise to $300 in the next quarter, indicating strong investor confidence in the company's growth prospects.
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Analyst Views on AMD
Wall Street analysts forecast AMD stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AMD is 284.10 USD with a low forecast of 200.00 USD and a high forecast of 377.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
36 Analyst Rating
27 Buy
9 Hold
0 Sell
Strong Buy
Current: 252.030
Low
200.00
Averages
284.10
High
377.00
Current: 252.030
Low
200.00
Averages
284.10
High
377.00
About AMD
Advanced Micro Devices, Inc. is a global semiconductor company. The Company is focused on high-performance computing, graphics and visualization technologies. Its segments include Data Center, Client and Gaming, and Embedded. Data Center segment includes artificial intelligence (AI) accelerators, microprocessors (CPUs) for servers, graphics processing units (GPUs), accelerated processing units (APUs), data processing units (DPUs), Field Programmable Gate Arrays (FPGAs), smart network interface Cards (SmartNICs) and Adaptive system-on-Chip (SoC) products for data centers. Client and Gaming segment includes CPUs, APUs, chipsets for desktops and notebooks, discrete GPUs, and semi-custom SoC products and development services. Embedded segment includes embedded CPUs, GPUs, APUs, FPGAs, system on modules (SOMs), and Adaptive SoC products. It markets and sells its products under the AMD trademark. Its products include AMD EPYC, AMD Ryzen, AMD Ryzen PRO, Virtex UltraScale+, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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