Stock Market Today, Nov. 12: AMD Jumps 5.9% on Bank of America Price Target Hike to $700
AMD surged 5.9% to $585.30 after Bank of America raised its price target to $700, citing strong chip demand. The rally was also fueled by investor rotation into semiconductor peers following Nvidia CEO Jensen Huang's resignation and William Blair's upgrade of AMD. AMD's data center segment showed 97% yearly revenue growth, with expectations for server revenue to double in 2027. However, AMD's valuation remains elevated with a P/E ratio of 127.


