AMD's stock is rising, up 3.3% due to a lucrative partnership with Saudi Arabia's AI firm, Humain, in a $10 billion deal, alongside easing trade tensions with China. Analysts see the Saudi market adding $1 trillion to the global AI landscape, which remains undervalued in tech stocks. AMD reported impressive earnings with a significant year-over-year revenue increase, attracting heightened attention from analysts, who are optimistic about AMD's future, with predictions of its stock potentially reaching $200.
We believe the market opportunity in Saudi Arabia could over time add another $1 trillion to the broader global AI market in the coming years and this dynamic is not being priced into the market and tech names in our view.
Analysts at DZ Bank just reiterated a buy rating on AMD with a $200 price target. All thanks to blowout earnings. EPS of 96 cents beat by three cents.
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