Overview
- A wave of upgrades accelerated on Monday as Goldman Sachs raised its price target to $640 and Cantor Fitzgerald set the highest on Wall Street at $700 while Wells Fargo moved its target to $615.
- The analyst re‑ratings follow AMD’s fiscal Q1 2026 results that showed data‑center revenue jumped 57% year over year to $5.8 billion, driven by EPYC server CPUs and new data‑center MI accelerators.
- AMD Ventures joined a $79 million Series A extension for Japanese autonomous driving startup Turing, and Bloomberg reported about 10% of Turing’s AI training now runs on AMD GPUs.
- The stock reacted with a premarket lift of roughly 3% to about $534 as the market priced in faster AI and cloud spend, but the shares trade at an elevated multiple near 172 times earnings.
- Investors are watching the August 4 earnings report as the key test of upgraded forecasts because execution risks, supply limits and strong competition from Nvidia could affect revenue and margins.