AMD has become the 15th-largest U.S. company as its market cap surpassed $560,000,000,000. The stock has surged over 70% in April and is now on track for its best month since January 2001.
A major trigger occurred on April 24, following Intel’s blowout earnings report.
D.A. Davidson upgraded shares of the chipmaker to a ‘Buy’ rating from ‘Neutral’ following rival Intel’s (INTC) strong quarterly results and outlook.
The firm raised its price target on the stock to $375 from $220 “based on a structural increase in CPU demand on top of much improved visibility into AMD's role in the great data center buildout.”
Intel’s results highlight the pivotal role central processing units (CPUs) play amid growing demand for AI agents, or bots that act on users’ behalf.
Investor excitement is building around the upcoming MI450 data center GPU and new rack-scale server solutions expected in the second half of 2026.
Investors are aggressively positioning themselves ahead of the earnings report. AMD anticipates its data center revenue will grow by more than 60% annually over the next few years.
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