TD Cowen Analyst Reaffirms Bullish Stance on AMD Amid AI Market Growth
Advanced Micro Devices (AMD) shares face pressure alongside tech and AI stocks due to valuation concerns, yet TD Cowen's top analyst Joshua Buchalter maintains a Buy rating with a $290 price target. His Optimism follows an investor call with AMD's CFO and CVP, highlighting the company's potential in the $1 trillion AI total addressable market (TAM).
Buchalter acknowledges AMD's challenges in scaling its AI business but remains constructive on its ability to capture value in GPU, CPU, and server-side networking markets. The analyst notes management's focus on Financial Analyst Day insights, though China's market opportunity appears limited in their projections.