Advanced Micro Devices (AMD) Stock Surges as Wall Street Analysts Boost Price Targets

Key Takeaways

• TD Cowen increased AMD’s price target from $600 to $675 while maintaining its Buy recommendation
• Shares began Monday’s session at $557.89 with the company valued at $909.70 billion
• First-quarter earnings per share reached $1.37, surpassing the $1.29 forecast; revenue of $10.25 billion exceeded the $9.90 billion projection
• Year-over-year quarterly revenue jumped 37.8%; Wall Street forecasts full-year EPS at $6.18
• Several investment firms, including Cantor Fitzgerald ($700), Wells Fargo ($615), and Stifel ($635), have recently elevated their price objectives

TD Cowen upgraded its price objective for AMD from $600 to $675 on Monday while reaffirming its Buy recommendation. This adjustment was part of the firm’s comprehensive second-quarter earnings analysis covering compute and networking semiconductor companies.

Advanced Micro Devices, Inc., AMD

The investment bank noted that industry fundamentals “remain firm” and highlighted significant AI product rollouts scheduled for the latter half of 2026 as critical catalysts for continued growth. TD Cowen additionally emphasized robust CPU demand, strengthened by agentic AI applications.

AMD started Monday’s trading at $557.89. The semiconductor giant holds a market capitalization of $909.70 billion, with shares trading within a 12-month range spanning $141.60 to $584.73.

The stock’s 50-day moving average stands at $491.60, compared to its 200-day moving average of $319.65 — illustrating the substantial rally AMD has experienced in recent trading sessions.

TD Cowen isn’t the only firm adopting a more optimistic stance. Cantor Fitzgerald elevated its price objective to $700 from $500, assigning AMD an Overweight designation. Wells Fargo adjusted its target upward to $615 from $505, also maintaining an Overweight rating.

Stifel raised its forecast to $635 from $450, highlighting AMD’s expanding presence in AI server infrastructure and EPYC CPU platforms. Goldman Sachs has similarly adopted a more favorable outlook, emphasizing accelerating agentic AI CPU demand.

Bank of America increased its target to $560 from $500 with a Buy rating in June. JPMorgan took a more conservative approach, shifting to a Neutral stance with a $385 target — representing one of the more cautious perspectives among major Wall Street firms.

MarketBeat’s consensus rating stands at Moderate Buy, with an average price target of $458.92. Among 44 analysts surveyed, 28 recommend Buy, 13 suggest Hold, and one advises Sell.

First Quarter Results Exceed Expectations

AMD’s most recent quarterly earnings, disclosed on May 5th, surpassed Wall Street forecasts. The chipmaker delivered earnings per share of $1.37 compared to the anticipated $1.29. Total revenue reached $10.25 billion, topping the consensus estimate of $9.90 billion.

Revenue expanded 37.8% versus the corresponding quarter in the prior year, when AMD generated $0.96 in earnings per share. Wall Street analysts currently project full-year EPS of $6.18.

The company’s next earnings announcement is anticipated around August 4th, with several market observers expecting another potential beat-and-raise performance.

Institutional Investment Trends

Regarding institutional positioning, Teachers Retirement System of Kentucky expanded its AMD holdings by 1.8% during the first quarter, elevating its position to 353,090 shares valued at approximately $71.8 million.

Norges Bank initiated a substantial new AMD position worth nearly $4.93 billion in the fourth quarter. Jennison Associates expanded its stake by 181.6% during the same timeframe. Franklin Resources increased its holdings by 340.1%.

Institutional investors and hedge funds collectively control 71.34% of AMD’s total shares outstanding.

On the insider transaction front, EVP Paul Darren Grasby divested shares valued at more than $10.8 million in May, while EVP Mark Papermaster sold approximately $3.2 million worth of stock in June through a pre-established 10b5-1 trading arrangement.

AMD also unveiled a new AI campus collaboration, creating an additional channel linked to large-scale artificial intelligence infrastructure investment.

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