AMD share price: where next after hitting a record high to kick off 2020?
The US-based chip maker kicked off the new year in style, with its share price breaking its dot-com era record high, with the stock capable of climbing even higher in 2020.
Advanced Micro Devices (AMD) kicked off 2020 by breaking through its dot-com era record set back on June 21 2000, with it closing 7% higher to $49.10 a share on Thursday last week.
Over the last two years, AMD has come out on top as the S&P 500’s best performing stock, with its strong start to 2020 putting it in good stead to top the index for a third consecutive year.
Looking to trade AMD and other tech stocks? Open a live or demo account with IG.
Instinet upgrades share price outlook for AMD
Analyst David Wong from Instinet believes the stock has the potential to soar this year, reiterating his ‘buy’ rating for the stock in January and upgrading his price target from $40 to $58 a share.
Based on AMD trading at $48.39 a share as of 14:15 GMT on Tuesday, Instinet believes the stock has a potential upside of 19.85%.
‘We expect AMD to continue strengthening its competitive position in 2020 through a steady stream of new product introductions on 7nm and 7nm+ technologies, continuing market-share gains, ASP increases, revenue growth and increasing operating leverage,’ Wong wrote in a note to investors.
You can go long or short AMD with IG using derivatives like CFDs and spread bets.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Act on share opportunities today
Go long or short on thousands of international stocks with spread bets and CFDs.
- Get full exposure for a comparatively small deposit
- Trade on spreads from just 0.1%
- Get greater order book visibility with direct market access
See opportunity on a stock?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Take your position
- See whether your hunch pays off
See opportunity on a stock?
Don’t miss your chance – upgrade to a live account to take advantage.
- Trade a huge range of popular stocks
- Analyse and deal seamlessly on fast, intuitive charts
- See and react to breaking news in-platform
See opportunity on a stock?
Don’t miss your chance. Log in to take advantage while conditions prevail.
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
