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These two businesses produce a large chunk of AMD's revenue, and they have a lot of room for growth.
Big semiconductor stocks Intel (NASDAQ: INTC) and Advanced Micro Devices (NASDAQ: AMD), however, are still in a funk -- down 3% and 3.1%, respectively. This morning, the investment bank attempted to give Intel and AMD a compliment, raising its price targets on the stocks by about 10% apiece -- Intel to $33 a share, and AMD to $115 -- and reiterating an outperform rating on the former and a strong buy on the latter, as StreetInsider reports. According to the analyst, "near-term business conditions appear mixed" right now, but Raymond James is starting to see "signs of a bottom in PC, TV, and Smartphone markets" -- even including some customers placing rush orders for chips to meet apparently unexpected demand.
Advanced Micro Devices, Inc. (AMD) has been a bright spot in the market lately. Shares have surged 51% in 2023.