Wells Fargo Recommends Buying AMD Stock

AMD's second-quarter earnings report has been released.

Revenues exceeded analysts' expectations.

The company reported revenue of approximately $7.7 billion.

Revenues were forecast at $7.4 billion.

AMD's earnings per share reached 48 cents.

The company stated that it expects third-quarter earnings to reach

more than $8.7 billion, with a margin of up to $300 million.

Wells Fargo

On the other hand, Wells Fargo stated that AMD's stock's downturn

is a good buying opportunity, with a target price of $185.

The bank also stated that it views second-quarter results as good,

and also expects third-quarter results to be good.

The bank maintained its "Overweight" rating for the stock,

emphasizing its confidence in the stock.