What's Going On With Nvidia, AMD Stock Tuesday?
Portfolio Pulse from Anusuya Lahiri
Nvidia Corp (NVDA) trades higher due to its dominance in the AI market and a raised price target from $500 to $550 by KeyBanc analyst John Vinh. Advanced Micro Devices, Inc (AMD) trades lower following reports of delays in its MI300 AI server and stability issues with its PC NB Ryzen Phoenix (7040). Despite these issues, Vinh maintains an Overweight rating for AMD and raises the price target from $150 to $160, citing AI server wins at Hewlett Packard Enterprise Co (HPE), Microsoft Corp (MSFT), and Meta Platforms, Inc (META).
July 11, 2023 | 4:56 pm
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POSITIVE IMPACT
Nvidia's stock is trading higher due to its strong position in the AI market and a raised price target from KeyBanc.
Nvidia's dominance in the AI market and the raised price target by KeyBanc are positive indicators for the company's stock. The company's ability to meet the robust demand from the cloud, enterprises, and AI startups is likely to drive its stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
AMD's stock is trading lower due to reports of delays in its MI300 AI server and stability issues with its PC NB Ryzen Phoenix (7040). However, the raised price target from KeyBanc indicates potential future growth.
AMD's stock is likely to be negatively impacted in the short term due to the reported delays in its MI300 AI server and stability issues with its PC NB Ryzen Phoenix (7040). However, the raised price target from KeyBanc and AI server wins at HPE, MSFT, and META could indicate potential future growth.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100