Movement Alert｜Advanced Micro Devices Rises 3.31% in Regular Trading, Wells Fargo Raises Target Price to $615

Market Focus06-30 21:36

On June 30, Advanced Micro Devices (AMD) rose 3.31% in regular trading, trading at $559.47/share, with turnover of $12.24 billion. The move was driven by a significant target price upgrade from Wells Fargo and a new product announcement.

Wells Fargo raised its AMD target price from $505 to $615, maintaining an Overweight rating. This followed UBS's earlier upgrade from $455 to $670 with a Buy rating, reflecting concentrated bullish sentiment from Wall Street institutions. The FactSet consensus average target currently stands at approximately $510.52.

On the same day, AMD unveiled its MoP-packaged Versal Premium Gen 2 adaptive SoC, integrating up to 32GB of LPDDR5X memory. The new packaging reduces PCB area by up to 60% and boosts memory transfer speeds to 9,000MT/s. AMD plans to sample the product by year-end with volume production targeted for the second half of the following year. UBS has cited growing agentic AI workloads as a catalyst for standalone CPU rack demand, projecting AMD's CPU revenue to reach $230 billion by natural year 2027.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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