An analyst on Seeking Alpha upgraded Advanced Micro Devices (AMD) to "Buy." The analyst set a price target of $1,000 per share by the end of 2028. This bullish outlook stems from AMD's significant momentum in key growth areas.
The report cites AMD's rapid expansion in the data center market. This market saw 107% year-over-year growth in the second quarter. The report also notes surging demand for AMD's AI accelerators. The analysis highlights the recent $8.2 billion acquisition of AI research lab World Labs. This acquisition enhances AMD's artificial intelligence capabilities and supports the long-term growth thesis.