Goldman Sachs Raises Price Targets for Storage Chips; Bullish on AMAT, AMD, and ON Despite Q2 Rally

According to Goldman Sachs, the semiconductor index (SOX) surged 88% in the second quarter, with the firm expecting earnings surprises across its coverage stocks. However, the firm warns of stock price overextension risks. Goldman Sachs maintains buy ratings on AMAT (price target: $645), AMD ($640), and ON ($95). The bank raised SNDK's price target from $1,200 to $2,200, STX to $960, and WDC to $650. Goldman's 2027 EPS forecast for AMD is 13% above market consensus estimates.
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