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Barchart
Barchart
Sneha Nahata

Wall Street Says AMD Stock Could Gain 40% in a Year

AMD United States

After a strong rally earlier this year, Advanced Micro Devices (AMD) stock pulled back slightly, sliding more than 12% from its recent peak of $186.65. The dip comes as the chipmaker takes a financial hit from U.S. export restrictions to China, which impacted its financials during the second quarter.

In its latest earnings report, AMD disclosed a year-over-year decline in artificial intelligence (AI) revenue within its data center segment. Management stated that the setback originated from the loss of MI308 accelerator sales to China due to export restrictions, as well as the company’s ongoing transition to its next-generation MI350 series accelerators. While the revenue dip grabbed headlines, AMD announced that this was more of a temporary speed bump than a long-term issue.

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