What happened Shares of Advanced Micro Devices (NASDAQ: AMD) climbed on Tuesday, following positive analyst commentary. As of 3:15 p.m. ET, AMD's stock price was up 4.2% after rising as much as 7.7% earlier in the day. So what UBS analyst Timothy Arcuri placed a buy rating on AMD's stock on Tuesday. He sees the semiconductor leader's share price rising roughly 25% to $95. After a sharp downturn in the personal computer (PC) market in 2022, Arcuri believes sales of central processing units (CPUs) are poised for a rebound in 2023. In turn, Arcuri thinks AMD and other computer hardware makers are poised to outperform the stock market averages as the PC industry recovers. Baird analyst Tristan Gerra is also bullish on AMD's prospects.
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