Loop Capital's initiation of coverage on Advanced Micro Devices (AMD) with a buy rating has sparked interest, as analyst Gary Mobley set a price target of $175, citing AMD's potential to capitalize on Intel's challenges. Mobley highlighted AMD's strategic position in the general-purpose and accelerated computing markets, predicting that the company will outperform market expectations and gain market share in the x86 CPU market. Despite this optimistic outlook, AMD's stock saw a slight decline, possibly due to broader market conditions or profit-taking after recent gains.
The GraniteShares 2x Long AMD Daily ETF (AMDL) experienced a decline, dropping 1.96% to $7.02 as of 4:40 PM on Tuesday, January 14.