(CercleFinance.com) – AMD posted one of the strongest increases in the S&P 500 on Tuesday on the New York Stock Exchange after an increase in recommendation from HSBC, which moved to buy on the stock.
About an hour after the opening, the title of the processor manufacturer gained 1.6%, while the S&P fell 0.1%.
HSBC raised its advice on the stock, with a price target raised from 180 to 225 dollars.
In a research note, the British bank estimates that the American group enjoys sufficient demand and has the appropriate capacities to exceed its target of turnover of more than $3.5 billion in graphics processors ( GPU) for AI in 2024.
The establishment also believes that AMD’s next generation AI chips, which will be launched in the second half of the year, could directly compete with those of Nvidia.
Deeming it impossible for Nvidia to control 100% of the AI graphics processor market, HSBC says it expects AMD to capture 10% of the segment by 2025, representing a potential turnover of 12. 3 billion dollars next.
The comments come as AMD announced on Tuesday the launch of new AI-powered Ryzen processors aimed at mobile devices and laptops.
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