Advanced Micro Devices (AMD) Stock Surges 32% in Record 11-Day Rally
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Advanced Micro Devices (AMD) stock has surged 32% in an 11-day rally, its longest winning streak in nearly two decades. Analysts have upgraded their price targets and revenue forecasts, driven by the company's partnership with Meta and strong demand in the server market.
Advanced Micro Devices (AMD) has achieved an 11-day winning streak, with its stock price rising 32%. This marks the company's longest uninterrupted winning sequence since 2005. The surge is attributed to a strong partnership with Meta and increased demand in the server market. Bernstein SocGen Group has upgraded its AMD price target to $265 and forecasts $76.7 billion in revenue by 2027, exceeding the Street estimate of $67.5 billion. Other analysts have also expressed bullish views, with Erste Group and Aletheia Capital maintaining Buy ratings. AMD is set to announce its quarterly results on May 5.
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