Wall Street Eyes Big Gains for AMD Stock Over Next Year

Advanced Micro Devices recently suffered a notable price drop of more than 12 percent over the course of July, but Wall Street analysts remain very optimistic. Experts expect the tech stock to stage a strong rally and reach a brand new all time high within the next 12 months. Benchmark analyst Cody Acree recently reaffirmed a Buy rating for the stock, keeping a price target of 685 dollars.

Ahead of the upcoming earnings report, analysts are watching forward guidance closely. While quarterly results should land near expectations, the outlook for future quarters will likely serve as the main catalyst for the share price. Experts project solid revenue figures alongside strong earnings per share, driven heavily by ongoing artificial intelligence demand.

Looking ahead, a broader survey of market analysts shows an average 12 month price target of nearly 590 dollars. Market watchers suggest that the recent summer sell off is simply a healthy correction during a larger market bull run. Traders will want to monitor upcoming earnings announcements and future revenue guidance to see if the stock can reclaim its upward momentum.