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Truist Upgrades AMD Stock Rating to Buy Amid Rising AI Demand
Truist Upgrades AMD Stock Rating to Buy Amid Rising AI Demand
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BTCCSquare news:
Truist Securities analyst William Stein upgraded Advanced Micro Devices (AMD) to Buy from Hold, citing growing data center demand and AI sector traction. The new $213 price target implies 28.1% upside potential.
Hyperscale customers now engage AMD as a primary partner, a significant shift from its previous role as a pricing benchmark against Nvidia. AMD's server CPU market share grew from under 1% to over 20% following its Rome product launch.
Stein projects AMD could capture nearly 10% of the GPU market, drawing parallels to its successful server chip strategy. The stock ROSE 2% following the upgrade.
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