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Barchart
Aditya Raghunath

Citi Upgrades AMD Stock to ‘Buy’ on Massive Meta GPU Sales Potential

AMD Citi Meta Atif Malik Jean Hu CPU

Advanced Micro Devices (AMD) stock climbed almost 5% on June 12 and nearly 7% on June 15 after a major Wall Street firm made a bold call on AMD stock. Specifically, Citi analyst Atif Malik raised his rating on AMD from “Neutral” to “Buy” and lifted his price target to $575 from $460, according to a note to clients. Valued at a market capitalization of $827 billion, AMD currently trades near $523 per share.

The Citi upgrade points to two big things happening at AMD right now. For one, the company is gaining serious ground in the graphics processing unit (GPU) market. Meanwhile, its central processing unit (CPU) business is among the most important growth stories in tech.

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