What's Going On With AMD Stock Tuesday?

Advanced Micro Devices, Inc AMD stock is trading higher Tuesday despite the postponement of production plans by key suppliers Samsung Electronics Co SSNLF and Taiwan Semiconductor Manufacturing Co TSM.

Analysts project a revenue of $22.63 billion in FY23 for AMD versus $23.6 billion in FY22.

In December, analysts including Rosenblatt, Goldman Sachs, and B of A Securities expressed their bullishness in AMD despite Nvidia Corp's NVDA dominance, citing the adoption of the company's MI300 Data Center GPU offering across the cloud and enterprise markets.

Goldman Sachs analyst Toshiya Hari predicted AMD's early success in Data Center GPUs, boosting a constructive year for its server CPU franchise.

B of A Securities analyst Vivek Arya foresees the prospect of AMD securing 5% to 10% of the expanding market, estimated to reach between $150 billion and $400 billion by FY27E. 

Arya believes AMD is well-equipped to increase its share in the highly lucrative $100 billion+ accelerator market, alongside its continued advancements in server CPUs against Intel Corp INTC.

AMD stock has gained 122% year-to-date versus Nvidia, with above 245%, and Invesco QQQ Trust, Series 1 QQQ at 55%.

Price Action: AMD shares traded higher by 1.18% at $141.25 on the last check Tuesday.

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