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Dear AMD Stock Fans, Mark Your Calendars for June 9

In late afternoon trading today, Advanced Micro Devices (NASDAQ:AMD) stock surged more than 6% higher as investors reassessed their risk profiles and digested an analyst upgrade. However, AMD also has an upcoming catalyst in the form of a big …

In late afternoon trading today, Advanced Micro Devices (NASDAQ:AMD) stock surged more than 6% higher as investors reassessed their risk profiles and digested an analyst upgrade. However, AMD also has an upcoming catalyst in the form of a big investor day on June 9.

The key catalyst driving AMD stock higher today is a key analyst upgrade on the company. Piper Sandler analyst Harsh Kumar noted a bullish thesis on the chip maker. While still taking a somewhat cautious view, Kumar believes that AMD is a company with great long-term upside, despite short-term volatility.

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Additionally, AMD announced today that the company will be holding its analyst day on June 9. Analyst days provide Wall Street with a closer look at what AMD is working on. Specifically, AMD’s product roadmap and growth trajectory will be main topics of discussion.

Let’s dive into what investors can expect from this event and why this is a date to put on the calendar.

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Can Analyst Day Boost AMD Stock?

Analyst days tend to provide the potential for volatility in any stock. Whether this volatility is to the upside or downside really depends on what AMD decides to share with analysts.

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Of course, allowing analysts access to a given company’s roadmap and growth prospects is a good thing. This allows the Street to get on the same page with where this stock is going and provide more accurate projections. For retail investors who rely on these assessments, this can be very helpful.

For AMD in particular, how the company is managing its supply chains, the demand projections management is making and a slew of other factors will be discussed. We won’t know the degree to which Wall Street is impressed or let down by these numbers until next week.

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For now, AMD stock is an intriguing stock to look at. Chip stocks have been beaten down as a result of this macro-level de-risking. However, should demand remain robust, it’s possible AMD stock could represent good value here. Investors will likely have more specifics following the upcoming June 9 analyst day. Indeed, it’s a date to mark on the calendar.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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