Advanced Micro Devices ( AMD ) gained more than 3% after Morgan Stanley analysts raised their price target on hares of the chipmaker. The analyts see opportunities for the Santa Clara, Calif., company in intellectual property licensing, semi-custom chips, cloud gaming and supercomputers. The analysts maintained their rating of equal weight for the stock and boosted their target price to $32 from $30. AMD shares traded at $32.09, up 3.62%. "We believe they are likely to gain share in every segment next year, competing successfully with both Intel ( INTC ) and Nvidia ( NVDA ), while spending a fraction of the R&D (research and development) that those two companies spend," the analysts wrote.