AMD Slides 6% Below $500 as Seaport Global Raises Target to $430
AMD•AMD shares slid 6% to $492.08 following Broadcom’s missed earnings, falling below $500 two days after its $546.44 peak, trading 128% above year-start with 20-day moving average support. Seaport Global upgraded AMD to Buy with a $430 target, citing CPU demand and expanded TSMC capacity for data-center and AI growth.
1. Market Reaction and Volatility
AMD shares fell 6% to $492.08, slipping below $500 just two days after its $546.44 all-time peak. Year-to-date gains remain at 128%, with the 20-day moving average offering potential support, while short interest has surged 25.4% to 2.8% of float and a volatility scorecard stands at 95.
2. Seaport Global Upgrade and AI Outlook
Seaport Global raised AMD to Buy with a $430 price target, citing stronger CPU demand in data centers and expanded TSMC manufacturing capacity to support AI workloads. Analysts have lifted multiple targets, and investors are watching whether improved supply and AI-driven demand will drive accelerated revenue growth.
