Shares of digital payments and fintech giant Block (NYSE: SQ), formerly known as Square, rallied 8.2% higher today as of 1:15 p.m. ET. Tech stocks in general were rallying ahead of the U.S. Federal Reserve's hotly anticipated announcement on its benchmark interest rate. The NASDAQ Composite was up 2.2%. Read More...
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Why AMD Stock Rocketed Higher Today
What really may be exciting investors, however, in addition to all the new product announcements, is the fact that investment bank Cowen & Co. apparently just named AMD as one of its top picks in semiconductor stocks. The big news in semiconductors Tuesday, after all, was Cowen’s recommendation of AMD’s larger competitor, Nvidia (NASDAQ: NVDA), which Cowen named a “top pick” in the industry based on projections the company could earn $28 a share in 2030, and book $140 billion in revenues. In February, that analyst raised his target price for AMD stock to $160.
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