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06/23 12:23

AMD Stock Is Higher Than Wall Street’s $490 Average: Dip Soon?

Advanced Micro Devices Inc (AMD) stock price is currently trading higher than Wall Street’s average price target of $491.27. AMD was trading at $551.63 at the time of writing, a rise of 2.65% and 14.26 points. While AMD is trading above Wall Street’s average price target, it is still well below the highest price target of $665 set by Barclays’ Thomas O’Malley. The lowest price target, on the other hand, is set at $250 by Daiwa’s Louis Miscioscia. Let’s discuss if AMD’s price will face a dip given its price trading above the average target.Source: TipRanksWill AMD Stock Price Face A Dip?Source: FinboldTech stocks opened at lows today after doubts crept in around the US-Iran peace deal. The S&P 500 fell by around 0.4% while the tech-heavy Nasdaq Composite dipped by about 1.5%. Amazon (AMZN), Meta (META), Alphabet (GOOG), and Nvidia (NVDA) all followed the larger trend. AMD, in contrast, was up. Micron (MU), too, registered gains amid a market dip.Micron’s (MU) rally is likely due to its earning report due tomorrow, June 24, 2026. AMD’s rise, meanwhile, is rather anomalous. While the stock has been riding the AI wave over the last several months, the latest rally seems to deviate from the market trend. Even Nvidia (NVDA), the AI market leader, faced a dip today. AMD seems to be navigating the storm rather well.Also Read: Micron Hits All-Time High Despite Tech Stock Dip And Iran ScareIt is possible that investors are betting big on AMD’s CPU (Central Processing Unit) advancements for agentic AI systems. CPU demand is expected to shoot up once agentic AI platforms take hold.There is also a possibility that AMD’s stock price is experiencing a delayed reaction to the market. The asset may follow the general trend in the next few days. We could see a slight correction if the US-Iran peace deal does not follow through.
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