Here's why AMD stock can surge to $148

Core Viewpoint - Advanced Micro Devices (AMD) is positioned as a key competitor to Nvidia in the high-end GPU market but has not yet fully leveraged the AI boom despite having competitive products [1] Group 1: Stock Performance and Predictions - AMD stock has shown resilience compared to Nvidia following the release of the Chinese AI model DeepSeek, maintaining its status as a value play in a competitive industry [2] - A technical analyst predicts that AMD stock will begin a gradual climb to $148, representing a 23.88% upside from its current price of $119.47 [6] - The stock has been trading within a descending channel pattern since reaching an all-time high of $211 in March 2024, with previous bullish legs resulting in price surges of 32.85% and 35.40% [3][4] Group 2: Technical Analysis - The current bearish leg of the descending channel pattern is believed to have ended, with the 1-day relative strength index (RSI) indicating bullish divergences that typically signal a reversal [5] - The average price target set by Wall Street analysts for AMD stock is $173, with some analysts, like Matt Bryson of Wedbush, setting targets at or above $150 despite recent adjustments [7] Group 3: Market Outlook - There is a high probability that AMD shares may pull back from the predicted $148 level, but Wall Street remains confident in the stock's ability to sustain higher price levels in the long run [8] - AMD is scheduled to release its next earnings report on February 4, which could impact market sentiment [8]