Advanced Micro Devices Inc. (NASDAQ:AMD) is showing significant relative strength, jumping into the top tier of Benzinga Edge’s momentum score, rising from 89.98 to 91.48 week-on-week.
What Does Momentum Ranking Entail?
This technical momentum—which measures the stock’s relative strength based on price movement patterns and volatility over multiple timeframes—aligns with a highly bullish outlook from UBS.
The firm maintained a $310 price target on the stock, representing an approximate 54% upside from Friday’s close of $201.99.
Benzinga Edge’s Stock Rankings data shows the stock is in an upward price trend across short, medium, and long-term timeframes—spanning from the last couple of months to the past year.
Beyond AI accelerators, UBS highlights that AMD remains very bullish on its CPU business, seeing upside to a long-term financial model of 18% market compound annual growth rate (CAGR) from both units and average selling prices.
Furthermore, the company boasts a growth ranking in the 97.53th percentile, measuring its combined historical expansion in earnings and revenue.
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