AMD's stock closed at $337.11 (+4.30%) on Wednesday, driven by positive sentiment from Wall Street analysts and anticipation for its AI Developer Day.
- Susquehanna raised its price target on AMD to $375 from $300, citing strong expectations for data center GPU demand.
- DA Davidson also issued a Buy rating, contributing to the bullish momentum ahead of the company's earnings report on May 5.
- The gains came despite broader AI sector pressure linked to concerns over OpenAI's growth, with AMD bucking the trend ahead of its event on April 30 where it will showcase on-device AI capabilities.