RBC Capital analyst Mitch Steves raised his price target on AMD (AMD) to a Street-high $66 with an Outperform rating following the better than expected results from Nvidia (NVDA), which suggest that the overall gaming and data center market is healthy. The analyst is positive on the investments made by AMD that should "pay off over the next 12 months and beyond."

TD Cowen raised the firm's price target on AMD to $200 from $185 and keeps a Buy rating on the shares. The analyst expect data center strength and "well-known softness elsewhere" when AMD reports Q1 results. The firm sees AMD as generating upwards of $10.00 in earnings per share by 2027, or a nearly 40% annual growth off of 2023. TD increased its MI300 2024 revenue estimate to $4.5B from $4B, saying ramps at several customers will continue to happen more quickly than typical. AMD remains one of its top picks.

Barclays analyst Tom O'Malley raised the firm's price target on Broadcom (AVGO) to $1,500 from $1,405 and keeps an Overweight rating on the shares after hosting management for meetings. Broadcom is one of the unique companies that has a comprehensive view of the semis industry while also capable of providing an "intimate look" at the artificial intelligence market via custom silicon, the analyst tells investors in a research note. The firm says management highlighted the company's inroads with the consumer-facing AI world, providing a differing viewpoint versus Nvidia's (NVDA) vision of the world - pointing to a two-part market of consumer and enterprise that could grow to a 50/50 split over time. Barclays came away from the meetings "with a valuable second opinion on the future of AI and a greater appreciation for the company's many ways to win."