Explore the latest developments concerning AMD hits $1.
AMD hits $1 trillion market cap as stock continues 5-day rally
Advanced Micro Devices stock surged 9% on Monday, pushing shares to a record high and topping a $1 trillion market cap benchmark for the first time.
The chip giant's shares hit an intraday high of $613.92, which boosted the company's value just above $1 trillion.
AMD is riding a five-day winning streak, during which shares have gained about 24%. The recent rally has been a welcome sight for investors, who saw the stock fall last month after the company reported second-quarter earnings that beat expectations.
The company reported revenue of $11.54 billion during Q2, up 50% from $7.69 billion a year ago, and its artificial intelligence chips were at the heart of that growth. AMD's Data Center unit reported sales of $6.7 billion, up a whopping 107% from a year ago.
My AMD Price Prediction Comes Down to One Crucial Growth Opportunity
AMD's Data Center revenue doubled 107% YoY to $6.72B, but a trailing P/E of 211 pushes our 12-month price target to $510, implying 9% downside.
NVIDIA trades at just 45x earnings with 75% gross margins, making AMD's 210x trailing P/E look dangerously stretched by comparison.
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My AMD price prediction really does come down to one thing: whether the Data Center segment can keep doubling. Everything else is noise around that signal.
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