Mizuho Keeps Outperform on Advanced Micro Devices (AMD) and Boosts Earnings Projections

Advanced Micro Devices, Inc. (NASDAQ:AMD) ranks among the best 5G stocks to buy now. On August 15, Mizuho maintained its Outperform rating on Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock, and increased its price target to $205 from $183. The firm raised its projections for AMD’s September quarter’s revenue and earnings per share from $8.71 billion and $1.14 to $8.80 billion and $1.15, respectively.

Moreover, Mizuho increased its fiscal 2025 forecasts from $33.2 billion in revenue and $4.00 in earnings per share to $33.4 billion and $4.02, surpassing the $33.1 billion and $3.96 previously expected.

The price target hike implies a higher value multiple of 33.7x, up from the prior 30.5x, since Mizuho believes Advanced Micro Devices, Inc. (NASDAQ:AMD) would profit from the deployment of MI308 chips in China.

A prominent multinational semiconductor company, Advanced Micro Devices, Inc. (NASDAQ:AMD) operates in a number of categories, including embedded, client, gaming, and data center. AMD, with operations all over the world, is also stepping into the telecom industry with an emphasis on 5G and computing advancements.

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Disclosure: None. This article is originally published at Insider Monkey.