AMD and Intel Surge 3% on Strong Buy Upgrade and Pelosi Stock Purchase
Analysts see value in AMD while a Pelosi trade lifts Intel.
Shares of Advanced Micro Devices and Intel are each up 3% early Tuesday on two unrelated catalysts. The broader chip group rides sector strength at roughly a third of that pace. For the broader context the iShares Semiconductor ETF is up 2% to 518.15 while the Invesco QQQ Trust is up 0.78% to 7111.84. That gap says semiconductors are leading the broader tech benchmark this morning rather than merely tracking it.
AMD stock is up 3% to 469.89 extending a run that has AMD up 113% year to date through Monday's close. Meanwhile Intel stock is rising 3% to 90.13 matching AMD's move on a separate trigger and building on a 136% YTD advance through Monday's close. These triple digit YTD returns have demolished NVIDIA at 12% and Broadcom at 4% rewarding turnaround bets over established AI plays.
The AMD move follows a Raymond James upgrade from Outperform to Strong Buy. The firm raised its price target to 641 from 565. Raymond James cited an attractive valuation and a long-term server CPU opportunity tied to AI. The firm projects the AI server CPU market to grow at a 44% five-year compound annual growth rate and to reach roughly 201 billion in revenue by 2030. This projection is driven by continued data center investment greater use of CPUs to coordinate AI accelerators and the emergence of agentic computing workloads. AMD's 52-week range of 149.22 to 584.73 means the new target sits above the top of that range.
Intel is moving on a congressional filing showing that Paul Pelosi spouse of Nancy Pelosi purchased 10000 Intel shares valued between 500001 and 1000000 on July 24. Pelosis purchase also included 50 call contracts at a 50 strike expiring June 17 2027 reported at 250001 to 500000. The transactions carry a spouse owned designation and were disclosed in a House filing dated August 21 so the filing itself is what is new. The underlying buying happened weeks earlier and is not a same day trade.
NVIDIA stock is up 1% to 211.14 ticking higher on sector sentiment ahead of its report tomorrow. The market sees this as a binary repricing risk for all chip names despite Polymarket's 96% beat probability. NVIDIA is up 12% YTD through Monday's close. Also Broadcom stock is climbing 1% to 363.50 riding the same broad bid with Broadcom up 4% YTD through Monday's close. The analyst who called NVIDIA in 2010 just revealed his top 10 AI stocks. See the full list FREE now.
First reported by finance.yahoo.com.
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