AMD shares rose 3.1% to $165.20 immediately after the opening bell on Thursday, while TSMC shares rose 9.79%. The PHLX Semiconductor Index rose 2.8% to near a record high of 4,214.59. Analysts attribute AMD’s strong performance to analyst Cowen & Co.’s bullish forecast. Matthew Ramsay raised his price target on the company’s shares to $185 from $130. Ramsay cited the MI300 chip, which targets artificial intelligence applications, as a key growth driver.
TSMC’s reassuring forecasts also contributed to the growth of AMD shares. While the chip manufacturer predicts that the share of artificial intelligence chips in its revenues will be around ten percent in 2027, this figure was previously expected to be much lower.
Source: Ferra
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