AMD
Wall Street’s doing the victory lap
AMD just can’t seem to quit the good-news cycle. Shares pushed higher Thursday after another wave of analysts raised price targets in the wake of the chipmaker’s monster second-quarter report.
Rosenblatt’s Kevin Cassidy bumped his target to $700 from $665 and stuck with a Buy rating, arguing the quarter didn’t show any sign of the party slowing down. Translation: the AI train still looks very much on the tracks, and Wall Street is happy to keep buying tickets.
Why the bulls are revving the engine
The love note from Rosenblatt came with a stack of numbers that make AMD look less like a cyclical chip stock and more like an AI infrastructure headline:
- Data center revenue hit $6.72 billion, up 107% year over year
- Total revenue came in at $11.54 billion, up 50% year over year
- AMD topped both analyst estimates and its own guidance
- Third-quarter guidance of about $13 billion also cleared consensus
That’s the kind of print that gets analysts reaching for the price-target-adjustment button like it’s the snooze alarm.
The real unlock: 2027 and beyond
The bulls aren’t just staring at one quarter. They’re looking at AMD’s longer runway in data center AI, server CPUs, and Instinct accelerators. Rosenblatt said AMD’s supply looks ready for the growth plan, and that the bigger bottleneck may be customer-side stuff like land and power — not chip availability.
AMD also sounded more optimistic about the broader HPC and AI market, lifting its long-term growth outlook. In other words: the company isn’t talking like a one-hit wonder. It’s talking like it wants a seat at the big kids’ table for years.
Big picture: when analysts keep hiking targets after a blowout quarter, they’re not just reacting to the past — they’re betting the next act could be even bigger.