Advanced Micro Devices (AMD) shares have maintained a sideways movement following the “Advancing AI 2024” event held in San Francisco. Despite the launch of new products such as the 5th generation EPYC server processors and MI325X accelerators, analysts’ reactions have been mixed.

AMD shares closed on Friday at $167.89, up 2.3% from the previous day, but down 1.8% for the week. Over the year, AMD shares have risen by 13.9%, but analysts note that the stock remains in a sideways range between $150 and $180.

Some analysts, including Oppenheimer, described the AI day as “uneventful,” noting that the company did not present significant news regarding sales or new large customers. However, Piper Sandler raised their price target from $175 to $200, highlighting AMD’s potential in the data center and AI segments.

AMD also updated its forecast for the AI accelerator market, expecting it to grow to $500 billion by 2028.