Wall Street sets AMD's highest target price at $700 as institutions remain optimistic about its computing business

This means that the target price is currently the highest forecast for AMD on Wall Street. Cantor now ranks the stock as its top pick in the computing sector, even ahead of Nvidia and Broadcom. Muse stated that AMD currently demonstrates the strongest growth momentum in computing business among semiconductor companies. On the other hand, he believes that Qualcomm's recent chip expansion is more likely to ultimately revert to its nature as a "mobile phone company." At present, the average Wall Street target price for AMD is $509.75, noticeably lower than Cantor’s $700 and also below its recent trading levels. The 35 analysts covering the stock have set target prices ranging widely from $250 to $700, making it one of the most divergent among major chip companies.