Advanced Micro Devices (NASDAQ:AMD 28.92 -0.34%) saw its shares soar during a mid-day spike after an analyst issued a “buy” rating ..citing a strong future for the company’s 7nm products.
David Wong is an analyst at Instinet and today he initiated coverage on AMD with a price target of $33 per share
In 2016, AMD stock was often selling for under $2 a share. Then it started upwards. Today, $10,000 worth of stock at a 2016 price of $2 would be worth over $144,000 (assuming no splits, etc). Not bad for 3 years of growth
Apparently, focusing on the CPU at the expense of the GPU is paying off -- literally.
