Shares of AMD (NASDAQ: AMD) have dropped 36.9% this year, even as the demand for its products remains strong and the company delivered impressive Q1 results. The semiconductor giant primarily offers x86 microprocessors, server and embedded processors, development services, and technology for gaming consoles and semi-custom System-on-Chip (SoC) products.
Last week, the company hosted its Financial Analyst Day, which left Rosenblatt Securities analyst Hans Mosesmann impressed. The analyst came away bullish and reiterated a Street high price target of $200 on the stock following the analyst day presentation. Mosesmann’s price target implies an upside potential of 110.93% at current levels.
Let us look at the reasons behind analyst Mosesmann’s bullish stance.