Advanced Micro Devices (AMD) has been getting a lot of attention. Just last month, Melius Research set a $175 high price target for the stock, and it recently reached $174.70 in intraday trading.
Analysts have increased AMD’s high target price to $200, which has many bulls celebrating. However, those wary of the stock’s meteoric rise are starting to voice concerns over stretched valuations at 52.43 forward P/E, and overoptimism about its prospects against its biggest competitor, the $4-trillion behemoth NVIDIA.
