Advanced Micro Devices, Inc. (NASDAQ:AMD) saw its shares surge in its stock price following its second-quarter earnings report, which exceeded expectations. The semiconductor giant reported earnings of $0.69 per share, surpassing the consensus estimate of $0.68, and sales of $5.835 billion, also ahead of the $5.724 billion forecast. Here's how analysts from top firms reacted to AMD's latest performance. BofA Securities: Cautious Optimism Amidst Rising Costs BofA Securities analyst Vivek Arya maintains a Buy rating but revises the price target down to $180 from $195. Arya praises AMD's performance, highlighting strong AI investments and recovery in PC/server markets. However, he notes rising operational expenses and only modest margin expansion as potential concerns. Arya expects AMD to grow its sales by 23% YoY in CY24 but warns that near-term consensus expectations might be overly optimistic given the rising cost profile. JPMorgan: Strong Data Center Growth Fuels Optimism JPMorgan analyst Harlan Sur keeps a Neutral rating with a $180 price target for AMD. Sur lauds AMD’s impressive second-quarter performance, driven by a 21% sequential rise in data center revenues and better-than-expected PC client shipments. He notes AMD's increased CY24 data center GPU outlook to over $4.5 billion, citing improved supply chain dynamics. Sur anticipates continued growth in data center and PC segments but a decline in gaming revenue and modest growth in embedded. Read Also: Can AMD Stock Hit $180? AI Growth Fuels Data Center Dominance Over Intel Goldman Sachs: Data Center Growth Drives Future Prospects Goldman Sachs analyst Toshiya Hari keeps a Buy rating with a 12-month price target of $175. Hari views AMD’s robust data center GPU traction and improving server CPU ...