Advanced Micro Devices Closes at $649.42, Up 2.80%, After…
By Tobi Opeyemi Amure
AI summary of the source article
Shares of Advanced Micro Devices rose 2.80% to finish at $649.42 on volume of 24.25 million shares, after trading between an intraday low of $628.00 and a high of $658.52. The price action followed remarks in Taipei by AMD Chair and CEO Lisa Su, who stated that demand remains ahead of shipments and that the company plans to substantially increase supply in 2027, requiring additional advanced wafer capacity. The session was also supported by Citigroup analyst Atif Malik increasing his price target for AMD from $575 to $800.
Key facts
- AMD shares closed at $649.42, up 2.80% from the previous close of $631.75 on trading volume of 24,245,860 shares.
- CEO Lisa Su announced plans to substantially increase chip supply in 2027 to address sustained high demand and wafer capacity needs.
- Citigroup analyst Atif Malik raised his price target on AMD to $800 from $575.