Advanced Micro Devices (AMD) stock slipped on Friday, but only after the chipmaker’s shares underwent a strong rally this week. The stock has climbed 8.92% higher over the past five days, largely thanks to ongoing analyst updates after the company announced a collaboration with ChatGPT maker OpenAI (PC:OPAIQ).
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With all of this extra attention on AMD stock, some investors are likely wondering what the company’s maximum potential is. AMD stock has a street-high price target of $310 per share. This price target came from top HSBC analyst Frank Lee earlier this week. If AMD can reach that value, it would represent a 34.77% rally from the stock’s current price. Unsurprisingly, Lee also holds an Outperform rating for AMD shares.
On the flip side of that, the lowest analyst price target for AMD is $160 per share. Five-star KeyBanc analyst John Vinh is behind this price target, which suggests a possible 30.44% downside for AMD. The analyst also assigned a Hold rating to AMD shares alongside this price target. Vinh updated his AMD coverage earlier this month, on the same day that the deal between the company and OpenAI was announced.
AMD Stock Movement Today
AMD stock was down 2.53% on Friday but remained up 89.44% year-to-date. The shares have also increased 50.39% over the past 12 months. A large portion of these stock gains are related to the AI boom. AMD makes components used in AI servers, such as CPUs and GPUs, and increased demand has helped boost its business.
Is AMD Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for AMD stock is Strong Buy, based on 30 Buy and 10 Hold ratings over the past three months. With that comes an average AMD stock price target of $250.22, representing a potential 9.26% upside for the shares.
