This week, tech giant Advanced Micro Devices (AMD) is poised to unveil a slew of innovative products and breakthroughs in artificial intelligence (AI) at its highly anticipated “Advancing AI” event. Industry insiders are bullish on AMD’s prospects, with a resounding 13 “buy” ratings and just three “hold” ratings from top analysts. As the company prepares to take the stage, expectations are running high for a slew of game-changing announcements that could send its stock soaring.
With AMD shares already up a impressive 15% since the start of the year, analysts are predicting a further 11% surge, with an average target price of $190.56. The company’s stock has been on a tear, having risen nearly 20% in the wake of a similar event last December.
The focal point of Thursday’s event is expected to be AMD’s latest AI offerings, which could potentially disrupt the status quo in the AI accelerator space. As the company faces off against industry heavyweight Nvidia, analysts believe AMD is primed to gain significant market share. The event’s announcement hinted at new partnerships with “AI ecosystems partners, customers and developers,” which could signal a major expansion of AMD’s customer base and further solidify its position in the AI landscape.
Leave a Reply