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Investing.com - Morgan Stanley has reiterated its Equalweight rating on AMD (NASDAQ:AMD) with a price target of $260.00, according to a research note published Wednesday. The chipmaker currently trades at $237.52, with a lofty P/E ratio of 127.75, significantly higher than the sector average according to InvestingPro data.
The investment bank maintained its neutral stance on the semiconductor company, citing uncertainty around AMD’s artificial intelligence market share prospects.
Morgan Stanley analyst Joseph Moore indicated that a "5 year single point earnings model doesn’t really capture the richness" of the debate around AMD’s AI positioning.
The firm specifically noted that broader acceptance of AMD’s MI450 chip from hyperscalers would be necessary to justify the stock’s current valuation, particularly given its recent price appreciation.
Morgan Stanley’s analysis suggests AMD’s stock performance will be "binary around AI market share," meaning the company’s success in gaining artificial intelligence computing market share will be the decisive factor for its stock performance.
In other recent news, Advanced Micro Devices (AMD) has seen notable developments in the microprocessor market and analyst ratings. According to data from Mercury Research, AMD gained market share in the microprocessor market during the third quarter of 2025, while Intel’s share declined. This shift was part of a broader trend where total microprocessor unit shipments increased by 3.9% quarter-over-quarter, surpassing typical seasonal growth. Piper Sandler has reiterated an Overweight rating on AMD, setting a price target of $280, expressing optimism about AMD’s new business model aimed at a $1 trillion silicon market by 2030. UBS also maintained a Buy rating with a $300 price target, highlighting AMD’s strong earnings potential, including a projected $20+ EPS. Barclays echoed this sentiment with an Overweight rating and a $300 price target, citing AMD’s competitive position in artificial intelligence markets. Meanwhile, Bernstein maintained a Market Perform rating with a $200 price target, noting that AMD’s long-term targets are ambitious but achievable. These recent developments reflect AMD’s evolving market strategy and analyst confidence in its future performance.
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