Shares of Advanced Micro Devices Inc ( AMD ) are surging higher on Tuesday, driven by a new strategic partnership and an analyst upgrade.

What To Know: The semiconductor giant’s stock is higher Tuesday following the announcement of a strategic alliance with HCLTech, a leading global technology company. The collaboration is set to accelerate enterprise digital transformation by leveraging AMD’s high-performance computing and AI capabilities.

The partnership will establish joint innovation labs to develop advanced solutions in AI, digital, and cloud, aiming to enhance operational efficiency and unlock new business opportunities for enterprises globally.

In the joint announcement, AMD Chair and CEO Dr. Lisa Su highlighted that the collaboration will provide businesses with “leading-edge technology solutions they need to accelerate innovation.”

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Adding to the bullish momentum Tuesday, Melius Research analyst Ben Reitzes upgraded AMD’s stock from Hold to Buy. The analyst also issued a substantial price target increase, moving it from $110 to $175 per share.

What Else: Tuesday’s upgrade from Melius Research follows a string of optimistic revisions from other Wall Street firms in recent weeks. On June 16, Piper Sandler reiterated its “Overweight” rating while lifting its price target on AMD to $140 from $125.

This came shortly after a mid-June flurry of bullish activity where Roth Capital raised its target to $150 and Evercore ISI Group boosted its target to $144, both maintaining their positive ratings.

This wave of positive sentiment includes a particularly high price target from Rosenblatt, which has maintained its “Buy” rating with a lofty $200 target.

Read Also: Here Are 10 Top Analyst Forecasts For AMD Monday

How To Buy AMD Stock

By now you're likely curious about how to participate in the market for Advanced Micro Devices ( AMD ) – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.

In the case of Advanced Micro Devices ( AMD ), which is trading at $138.05 as of publishing time, $100 would buy you 0.72 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

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