What happened Shares of Advanced Micro Devices (NASDAQ: AMD) rose 6.2% on Wednesday, following an analyst upgrade. So what Goldman Sachs analyst Toshiya Hari raised his rating on AMD's stock from neutral to "conviction buy" and boosted his price forecast from $84 to $96. Hari's new target price represents potential gains to investors of roughly 18%, compared to the stock's closing price of $81.35 on Wednesday. Goldman Sachs analysts see plenty of upside for Advanced Micro Devices' stock. Image source: Getty Images. Hari highlighted AMD's market share gains in the massive personal computer and server markets, as well as the chipmaker's improving profit margins. He expects these trends to drive AMD's earnings growth above Wall Street's expectations. In turn, Hari says the stock's recent decline from its highs is offering investors a "compelling" investment opportunity. Now what AMD is benefiting from the struggles of its archenemy Intel (NASDAQ: INTC), which has suffered costly production delays for its next-generation chips. Hari acknowledged Intel's issues as part of the reason for his bullishness on AMD. He also reiterated his sell rating on Intel's shares and slashed his price forecast on the lumbering chip giant's stock from $46 to $38. Intel's pain is likely to remain AMD's gain in the quarters ahead. And its stock appears poised to hit -- and perhaps, surpass -- Hari's new $96 target price in the coming year. 10 stocks we like better than Advanced Micro DevicesWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Advanced Micro Devices wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool recommends Intel. The Motley Fool has a disclosure policy.Source