AMD stock jumps over 4% as Wall Street raises price targets, fueled by surging AI GPU demand and strong server business growth.
Advanced Micro Devices Inc.
(NASDAQ:AMD) stock rose more than 4% on Tuesday after several Wall Street analysts raised their price forecasts, reinforcing optimism about the chipmaker's artificial intelligence and server businesses.
Broader strength in semiconductor stocks and renewed hedge fund buying also supported the rally.
The stock outperformed the broader market, with the Nasdaq gaining 1.35% and the S&P 500 rising 0.42%.
Technology was the day's best-performing sector.
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