Wall Street Loves These 2 Nasdaq Stocks

The stock market has had a great January so far, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) has led the way for bullish investors. That streak continued on Monday, as the

Nasdaq led all other major market benchmarks with a 2% gain shortly before noon ET. Investors like to hear what Wall Street's professional stock traders have to say about

their favorite companies, and often, a positive review from pro analysts can send stocks soaring. That was the case for Advanced Micro Devices (NASDAQ: AMD) and Nvidia (NASDAQ:

NVDA) on Monday, as both semiconductor chip manufacturers earned favorable comments from influential analyst companies. AMD keeps chipping away Shares of Advanced Micro

Devices climbed 8% in early afternoon trading on Monday. The semiconductor company got upbeat comments from multiple analysts. Stock analysts at Barclays started things

off, upgrading their rating on AMD from equal weight to overweight. They also boosted their share-price target on AMD stock, raising it from $70 per share previously to $85.

Overall, Barclays believes in companies that focus on semiconductor chips for use in data center equipment, PCs, and smartphones. Analysts there are hopeful that some negative

macroeconomic factors that have hit some of those industries recently will reverse themselve soon, and Barclays sees conditions in China improving in the second half of 2023.

AMD also benefited from a price target increase from analysts at another company. Truist boosted its target on AMD stock by $9 per share, setting a new $79 figure.