Bank of America upgraded shares of the chipmaker to 'buy' from 'underperform on Thursday due to its opportunity compared to rivals Intel and Nvidia. Meanwhile, AMD's chart looks good, too.
If a rumor is right, Intel might further downsize its PC investments by letting AMD handle its GPU needs. Qualcomm, meanwhile, is hoping servers will help offset soft mobile growth.
Advanced Micro Devices was upgraded to buy at Bank of America/Merrill Lynch.
TheStreet's Jim Cramer declared the company a top takeover target for 2017 just one week ago.