半导体行业（美股）：服务业PMI回温，关注AMD下半年成长

Group 1: Market Overview - The U.S. stock market has shown mixed performance recently, with the Dow Jones increasing by 0.96%, while the S&P 500 and Nasdaq experienced declines of 0.16% and 0.94% respectively [26] - The Philadelphia Semiconductor Index saw a weekly decline of 2.63%, indicating a cyclical adjustment in the semiconductor sector [19][26] - Wall Street analysts express significant divergence regarding the sustainability of the current bull market, particularly focusing on technology stocks [5] Group 2: Company Performance - AMD is highlighted as having a promising outlook for the second half of the year, with over 100 clients in the AI accelerator space expected to increase their investments [22] - AMD's strategic positioning in the AI accelerator market is noted as impressive, with a strong customer base including major companies like Microsoft, Meta, and Oracle [22] - The report suggests that AMD's growth is driven by the increasing demand for AI, which is expected to boost both its PC product line and AI server demand [19][22] Group 3: Analyst Predictions - Goldman Sachs raised its year-end target for the S&P 500 from 5,200 to 5,600, citing ongoing earnings upgrades and profit growth extending beyond tech stocks [6] - Piper Sandler has designated AMD as a "Top Pick" with a target price of $175, reflecting confidence in its growth potential in the AI sector [22] - Morgan Stanley's strategist predicts a potential 22% decline in the U.S. stock market over the next six months due to various risks, despite recent gains [30]