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HSBC: Wall Street Underestimating Advanced Micro Devices Inc. (AMD)’s AI GPU Business

Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the best tech stocks to buy for the long term. On September 9, HSBC reiterated a ‘Buy’ rating on the stock but cut its price target to 185from185 from 200. The price target cut comes amid concerns about the average selling price of the company’s M1355 chip. HSBC: Wall Street Underestimating Advanced Micro Devices Inc. (AMD)'s AI GPU Business Posonskyi Andrey/Shutterstock.com According to HSBC, the price target cut was necessitated by the fact that the avera ...