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Advanced Micro Devices Inc. (NASDAQ:AMD) is one of the 10 Stocks With Double-, Triple-Digit Returns.

Advanced Micro Devices climbed by 24.9 percent week-on-week, as investors gobbled up shares following an analyst’s bullish outlook for the company, having raised its price target by 70 percent.

On Friday alone, the stock climbed to an all-time high of $352.99, thanks to DA Davidson’s “buy” recommendation and a higher price target of $375 versus $220 previously.

DA Davidson said that its coverage reflected its optimism for Advanced Micro Devices Inc.’s (NASDAQ:AMD) increasing role in the accelerating data center buildout, citing a “structural increase in CPU demand.”

It also pointed to Intel Corp.’s strong first-quarter earnings results as having signaled the acceleration of the CPU market.

“We view Intel’s results as a precursor for a huge step-up for AMD’s CPU franchise and believe the structural shift toward [agentic] AI workloads is creating unprecedented demand for server CPUs,” DA Davidson said.

With CPU demand likely outstripping supply in the foreseeable future, Advanced Micro Devices Inc. (NASDAQ:AMD) can boost prices across its portfolio and widen profit margins, it noted.

Advanced Micro Devices Inc. (NASDAQ:AMD) is set to announce the results of its earnings performance in the first quarter of the year on May 5.

While we acknowledge the potential of AMD as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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