According to Oppenheimer, analyst Rick Schafer upgraded AMD to "outperform" on Nov. 8 with a $600 price target, implying 34% upside from Friday's close of $449.04. The upgrade follows AMD's third-quarter earnings beat and recent management discussions, with CEO Lisa Su forecasting revenue growth of at least 80% in 2027.

Schafer's bull case centers on data center expansion. He predicts AMD's data center revenue will surge 135% in 2027, driven by sustained chip investments from OpenAI, Meta, Oracle, Microsoft, and Saudi Arabian AI company Humain. The analyst cited cross-generation customer orders, the Helios cabinet-level platform, and annual Instinct accelerator updates as competitive strengths, alongside growing demand from emerging agentic AI workloads.

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