Shares in Advanced Micro Devices (AMD) stock rose at the end of this past week following a bullish claim by numerous analysts. Analysts at HSBC said AMD’s MI350 series chips are comparable to Nvidia’s current Blackwell chips. The analysts also claim that the next generation MI400 chips, due for release next year, could compete with Nvidia’s next-generation Vera Rubin platform. Such a bullish comparison to the top chipmaker in the US sent positive sentiment throughout the chip market, sending AMD in particular higher.

AMD shares trade 86% above their early April low and have gained 18% since the start of the year as of Thursday’s close. However, they have significantly underperformed Nvidia’s shares over the past 12 months due to the company’s inability to capture a greater share of the booming AI chip market. AMD stock entered 2025 trading at $120 but plunged 35% in value after Trump’s Liberation Day in April. It dipped to a yearly low of $78 but quickly regained in value after the President announced a 90-day pause on tariffs. Now that its prices have somewhat stabilized, analysts are eyeing key price points for the stock to target over the coming months.

Furthermore, since bottoming in early April, AMD shares have traded higher in an orderly uptrend. More recently, the price broke out from a flag pattern in Thursday’s trading session on the highest volume in a little over a week. Analysts at HSBC believe that this is the start of a positive trend for the stock and have thus raised their price forecasts to reflect that. With shares trading at $145, the next ideal target for AMD stock is $175. This price point could provide resistance near prominent countertrend peaks that formed on the chart in May and October last year.

Also Read: Taiwan Semiconductor (TSM) Revenue Rises 31%: Buy the Stock?

Beyond $175, strong interest above this area could see AMD climb towards $215, setting a new ATH for the stock. Both of these targets exceed expectations of several top analysts on Wall Street. Recently, Citigroup projected that AMD stock could reach a high of $145, which has already been breached. According to Citigroup, AMD is on the path to generating profits due to an increase in semiconductor earnings in Q2, which could push the stock’s price up. It has also heavily invested in the AI technology to spending a major chunk on research and development. The broader GPU sector is showing signs of a rebound, and AMD stock could benefit the most from the development.

At press time, AMD is trading in the middle of its 52-week range and above its 200-day simple moving average. CNN analysts currently label AMD stock as an 8/10 investment choice, with none suggesting selling the stock now. The analysts also forecast AMD to reach a high of $200 over the next 12 months.