Investment Firm Gets More Positive on Chipmaker AMD Stock

A notable investment firm, Loop Capital, recently changed its view on Advanced Micro Devices (AMD) stock, showing increased optimism about the chipmaker's future. The firm decided to upgrade its recommendation for AMD shares. They moved their rating from "Hold," which suggests keeping the stock you have, to "Buy," indicating they now believe it's a good time for investors to purchase the stock. Alongside the improved rating, Loop Capital also raised its price prediction for AMD shares. They increased their target price from $180 per share to $200 per share, suggesting they see the stock potentially trading at a higher value in the future. The reason behind this more positive outlook, according to the report, is tied to AMD's position in the booming field of Artificial Intelligence (AI). Loop Capital specifically highlighted AMD's work on new AI chips, suggesting these products could help the company capture a significant part of the growing AI market, leading to better prospects for the stock.