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Advanced Micro Devices (SYM: AMD) is showing big signs of life again. After slipping from about $160 to about $133, the tech giant is just starting to pivot higher again. Last trading at $145.91, we'd like to see AMD initially rally back to its prior high. Helping, the company just announced that its "Advancing AI 2024" event will showcase its next-generation AMD Instinct accelerators, 5th Gen AMD EPYC server processors, AMD's networking, PC and artificial intelligence solutions ecosystem. 
Even better, analysts at Edward Jones just initiated a buy rating on the AMD stock, adding it to their Stock Focus List. Also, as noted by TheFly.com: "The company should deliver 'outsized growth' as growing demand for datacenter infrastructure should help drive accelerating sales of its chips, the analyst tells investors in a research note. The firm says that while the acquisition of Xilinx adds new programmable chip products and end-markets to AMD's business, the company remains in the early innings of cross-selling and integrating Xilinx and AMD products. Edward Jones believes its optimism is not fully reflected in the share price." Plus, as noted by New Street Research, "Artificial intelligence infrastructure shows no signs of slowing down any time soon as higher spend on computing power leads to better performing models." All of which is great news for stocks like AMD. Did you miss yesterday's Chart of the Day? Click here to view it now.
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