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The story on Wall Street has been artificial intelligence (AI), which has led to the unprecedented surge of some notable names. One such name is Advanced Micro Devices (AMD), which has earned its popularity through its CPUs and GPUs. Recently, the company has been focusing on forging longstanding partnerships, such as its supply agreement with OpenAI and the 6-gigawatt agreement to power the AI infrastructure of Meta Platforms (META).
The stock also got another lift this month when its prime competitor, Intel Corporation (INTC), reported its earnings that showed solid demand for CPUs. Against this backdrop, UBS analyst Timothy Acuri raised AMD's price target from $310 to a new Street-high $455 while maintaining a bullish “Buy” rating. Should you consider buying AMD now?
