Arete lifted its price target on AMD common shares to $612 from $540 on Oct. 16, while the stock finished that session down 5.95% at $528.75.
AMD shares lost $33.48 to close at that price at 4 p.m. ET (20:00 UTC) Friday. Arete's target covers the listed common shares, not AMDUSDT, a Binance perpetual derivative settled in Tether (USDT) that tracks AMD stock and trades around the clock. The derivative's trading schedule differs from the regular session used for the common-share closing price.
AMD's fiscal second-quarter revenue totaled $11.5 billion for the period ending June 27. Its Data Center business brought in $6.7 billion, a 107% increase from the same quarter a year earlier.
Dr. Lisa Su, AMD's chair and CEO, said demand for EPYC was accelerating, Instinct deployments were scaling and Helios was beginning to ramp. AMD plans to release fiscal third-quarter results after the market closes Nov. 3.
