Advanced Micro Devices Stock is Rising: What's Happening?
Advanced Micro Devices Inc. (NASDAQ: AMD ) shares are pushing higher on Thursday as positive price target adjustments ranging from $465 to $700 continue to roll in following the chipmaker’s strong second-quarter report this week. Advanced Micro Devices shares are advancing steadily. What’s pushing AMD stock higher? A Wave of Analyst Target Increases Follows Another Record Quarter Rosenblatt analyst Kevin Cassidy lifted his objective to $700 from a prior $665 while holding his Buy rating, characterizing the period as yet another record quarter with nothing in the results pointing toward a deceleration. The firm pointed to data center revenue of $6.72 billion, a 107% year-over-year advance that surpassed the $6.51 billion consensus and represented 58% of total company revenue, as the primary driver of the outperformance. Total revenue of $11.54 billion grew 50% year over yea...
Advanced Micro Devices Inc. (NASDAQ: AMD ) shares are pushing higher on Thursday as positive price target adjustments ranging from $465 to $700 continue to roll in following the chipmaker’s strong second-quarter report this week. Advanced Micro Devices shares are advancing steadily. What’s pushing AMD stock higher?
A Wave of Analyst Target Increases Follows Another Record Quarter Rosenblatt analyst Kevin Cassidy lifted his objective to $700 from a prior $665 while holding his Buy rating, characterizing the period as yet another record quarter with nothing in the results pointing toward a deceleration. 51 billion consensus and represented 58% of total company revenue, as the primary driver of the outperformance. 31 billion consensus while exceeding the top end of AMD’s own guidance range. 54 billion consensus.
89. 05, a multiple Rosenblatt said is justified by AMD’s top line growing more than 40% and its bottom line expanding more than 80%. Helios and 2027 Data Center Growth Are the Key Catalysts Rosenblatt highlighted AMD’s guidance for server CPU revenue to grow more than 80% year-over-year in the second half of 2026, stepping up from a prior estimate of 70%, alongside management’s expectation that total data center revenue will grow well over 100% in 2027 with data center AI revenue expanding well above 100%. Management characterized a $30 billion estimate for 2027 Instinct revenue as being at the low end.
Helios shipments are beginning late in the third quarter, stepping up meaningfully in the fourth quarter and again in the first quarter of 2027, with customer demand tracking ahead of AMD’s initial volume forecast. Cassidy noted that AMD has secured the supply necessary to support its 2027 growth plan, with the primary variable being customer data center readiness including land and power availability rather than any shortage of AMD silicon. In the long run, AMD management raised its outlook for the HPC and AI market, now projecting 40% annual growth toward nearly $2 trillion by 2030, up from a prior 35% estimate, with AMD expected to grow above the overall market rate.
47 at the time of publication on Thursday, according to Pro. RH/Shutterstock