"Analyst: It's Not Too Late to Ride AMD's Stock Surge"
Analyst Pierre Ferragu of New Street Research upgraded AMD's stock to buy with a $215 target price for late 2024, citing the company's potential for significant upside due to its dominance in AI architectures, structural scarcity, and attractive valuation. He believes AMD is well-positioned to grow revenues by more than 20% per year over the next four years, even if market shares against Intel slow or stabilize. Ferragu also highlighted Taiwan Semiconductor Manufacturing Co. Ltd. as a "de-risked" option in the chip sector.