AMD
INTC
Wall Street can’t stop hitting the gas
AMD’s post-earnings victory lap turned into a full-on parade on Wednesday, with shares jumping to record highs after a string of analysts lifted price targets and one even upgraded the stock. The common thread: AMD just showed enough strength in Q1 and Q2 guidance to keep the AI optimism train chugging.
KeyBanc’s John Vinh was one of the loudest bulls, reiterating Overweight and yanking his price target from $330 to $530. In analyst-speak, that’s basically saying, “We came in bullish, saw the numbers, and decided the ceiling is still way higher than we thought.”
The bull case keeps getting roomier
The analyst notes leaned hard into a few themes investors love right now:
- server CPU demand is still heating up
- data center growth came in stronger than expected
- AMD’s GPU story looks more interesting by the day
- hyperscalers are apparently still shopping for alternatives and backup plans
That last bit matters. If big cloud players keep diversifying away from the obvious default names, AMD gets more shots on goal — and more reasons for Wall Street to model fatter growth down the road.
The catch: the stock already moved a lot
Not everyone is tossing confetti. JPMorgan’s Harlan Sur stayed Neutral, even while lifting his target to $385, basically arguing that AMD already looks close to fully valued after the run-up. And that’s the tension here: the business is improving, but so is the price.
Still, the market seems to be betting that AMD’s AI and data center story has more chapters left. Big picture: when a stock is making new highs and analysts are still moving targets higher, the message is pretty simple — the Street thinks this growth machine hasn’t hit cruise control yet.