Advanced Micro Device (AMD) is trending lower at the moment.
But we don’t expect that to last long – especially with the artificial intelligence boom.
Helping, analysts at Citi says AMD could take about 10% of the data center graphics processing units (GPU) market. “We believe AMD is using an annual product cadence to keep pace with Nvidia, and we still expect AMD to get 10% share of the data center GPU market or roughly $15.0 billion,” Citi noted. The firm also reiterated a buy rating with a $176 price target.
Analysts at Edward Jones also initiated coverage of AMD with a buy rating, citing growing demand for data center infrastructure. All of which should boost AMD’s GPUs and central processing units (CPUs).