HSBC upgraded Advanced Micro Devices (AMD, Financials) to Hold from Sell and raised its price target to $100 from $75. The call comes on the back of strong Q1 results and fresh optimism around AI and global trade.
Analyst Frank Lee pointed to AMD's rebound in data center revenue and a new U.S.-Saudi AI partnership as signs of improving momentum. He also flagged easing tariff tensions and upcoming AI chip launches as potential tailwinds.
Lee called AMD's AI exposure “appealing” over the long term, even as the stock remains a hold for now. Investors are watching how well AMD delivers on its AI roadmap and how it stacks up against Intel (INTC, Financials).
