Wall Street's Highest Advanced Micro Devices Stock Price Target

Earlier this week, William O'Neil added AMD to its U.S. Focus list

Aug 23, 2018 at 9:41 AM
facebook X logo linkedin

Analysts have been blasting Advanced Micro Devices, Inc. (NASDAQ:AMD) with bullish notes recently, as the chip stock rallies into decade-high territory. Following this morning's latest batch of upbeat brokerage attention, AMD stock is up 4% out of the gate to trade at $21.73 -- its highest point since December 2006.

Specifically, Rosenblatt raised its AMD price target to $30 from $27, the highest on Wall Street. This represents expected upside of 43.5% to last night's close at $20.90, and sits in territory not charted in 12 years.

This just echoes a positive note from William O'Neil earlier this week, which added AMD stock to its U.S. Focus list, saying it believes the "shares are buyable again as they break into new highs on strong volume."

Today's price action is just more of the same from a stock that has already doubled in value year-to-date. What's more, Advanced Micro Devices shares just flashed a buy signal that's had a 75% win rate in the last 10 years.

From a contrarian perspective, there's plenty of fuel to keep AMD's fire burning, with 47% of analysts still maintaining a "hold" or worse rating and one-fifth of the stock's float sold short. And options traders have been quick to jump on the bullish bandwagon.

At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), AMD stock's 10-day call/put volume ratio of 2.96 ranks in the 72nd annual percentile, meaning calls have been bought to open over puts at a quicker-than-usual clip. The weekly 8/24 20.50-strike call has seen one of the biggest increases in open interest over this time frame, and data from Trade-Alert points to significant buy-to-open activity.



How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.