AMD has already had one of the best years of any stock in the market.
Up more than 170% year-to-date
A market cap pushing toward $1 trillion. A server CPU business that’s been quietly taking share from Intel while the GPU story was getting all the headlines. Wells Fargo analyst Aaron Rakers raised his price target to $615 from $505 at the end of June after AMD’s EPYC Venice processors began ramping ahead of any prior generation.
Then on July 22, AMD confirmed a deal with Anthropic worth up to $5 billion. And Rakers put out another note saying the Anthropic deal gave him “further confidence” in estimates that are already above Wall Street consensus. The $615 target stays.