Chip Stocks on Edge Ahead of Earnings; AMD, Nvidia Price Targets Adjusted

Chip stock performance is expected to be closely watched ahead of big tech earnings, particularly with Nvidia and AMD stocks being volatile. Nvidia has been impacted by the OpenAI sell-off, which is expected to have a ripple effect on its price. However, AMD stock has seen a boost due to its expected growth in AI and server CPU sales. Analysts have been adjusting price targets in tandem with these developments, with several firms revising their estimates for AMD and Nvidia stocks.

Scotiabank adjusted its price target for AMT from $214 to $218 and maintained an outperform rating. The firm also raised its American Tower price target to $218 and lowered the target for TMUS to $263.

RBC Capital maintains its rating for Brown & Brown, adjusting its price target from $84 to $74. TD Cowen has increased its price target for TMUS to $261, while Scotiabank lowered its target to $263.

Other analysts have raised their price targets for AMD, with Susquehanna increasing its target to $375 due to strong server CPU sales. Meanwhile, RBC Capital lowered its Brown & Brown target to $72 and adjusted the target for TMUS to $240.

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