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Advanced Micro Devices (AMD) shares continue to surge in the buildup to the chipmaker’s annual “Advancing AI 2025” event on Thursday, June 12.
The semiconductor company based out of Santa Clara, California is broadly expected to showcase its latest advancements in artificial intelligence at the hybrid event.
At the time of writing, AMD stock is up more than 53% versus its year-to-date low set on April 8.
Significance of ‘Advancing AI 2025’ Event for AMD Stock
“Advancing AI 2025” could prove a major catalyst for AMD shares as it will unveil the company’s next-gen chips (Instinct) and demonstrate latest innovations in its ROCm open software ecosystem.
Strong partnerships and customer adoption details revealed at the annual event could significantly boost investor confidence in AMD’s ability to expand its footprint in the AI market.
As the company demonstrates its commitment to capitalizing on the multitrillion-dollar AI opportunity, institutional interest in AMD stock could climb, potentially driving its price up further in the back half of 2025.
BofA Remains Bullish on AMD Shares Heading into the Annual Event
Bank of America analysts recommend buying AMD stock ahead of the company’s June 12 event as it could hit $130 in the near term.
The investment firm is bullish on the firm’s recently announced $10 billion AI infrastructure deal with Saudi-based startup Humain.
Additionally, Advanced Micro Devices secured authorization for another $6 billion worth of stock buybacks last month that makes it all the more exciting to own at current levels.
Investors should note that the forward price-earnings multiple on AMD shares currently sits at 35x only – versus about 37x on average over the past five years, substantiating a discount.
Wall Street Likes AMD as an AI Pick for 2025
AMD shares may be worth owning at current levels also because Bank of America is not the only Wall Street firm that’s bullish on them at the time of writing.
The consensus rating on AMD stock currently sits at “Moderate Buy” with the mean target of $130 indicating potential upside of another 10% from current levels.
