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Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the AI Stocks Investors Are Watching Closely. On July 15, Mizuho analyst Vijay Rakesh raised the price target on the stock to $175.00 (from $152.00) while maintaining an “Outperform” rating. The rating affirmation follows an announcement from the Trump administration that Nvidia and similar AI accelerator providers will be able to resume AI GPU shipments to China as part of trade negotiations.
According to Mizuho, the announcement means AMD will be able to resume the shipments of its MI308 chips to China. This denotes a significant opportunity as U.S. companies re-enter the Chinese market, which the firm estimates is worth an estimated $50 billion in value.
Alongside AMD, the firm also raised price targets for Nvidia and Broadcom based on the win. It said that Chinese customers are already applying for licenses to receive shipments of certain AI chips following the news.
Advanced Micro Devices, Inc. (NASDAQ:AMD) develops and sells semiconductors, processors, and GPUs for data centers, gaming, AI, and embedded applications.
While we acknowledge the potential of AMD as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 10 Trending AI Stocks in Focus This Week and 10 AI Stocks Gaining Attention on Wall Street.
Disclosure: None.