Wall Street is rushing to raise price targets for AMD stock after earnings. Here's the bull case from 6 top firms.

Advanced Micro Devices stock skyrocketed higher on Wednesday after the chipmaker’s consensus-crushing earnings report wowed investors.

The blockbuster results prompted a fresh round of upgrades and price target boosts from Wall Street analysts.

The stock hit a high of $432.49 in Wednesday’s session, and is up more than 90% in 2026.

Here are six Wall Street firms that lifted their AMD price target and why they’re bullish on AMD stock.

Barclays: “One of the most interesting plays in AI right now”

Barclays substantially increased its price target to $500 from $300, highlighting that AMD is a key player as agentic AI applications expand.

“”Net-net, AMD remains one of the most interesting plays in AI right now benefiting from both major trends we are seeing in XPU compute shortages and the growing importance of CPUs to agentic AI,” the analysts wrote.

Goldman Sachs: “Outsized beneficiary of enterprise agentic AI adoption”

Goldman lifted its price target to $450 and upgraded AMD stock to a buy rating, citing CPU tailwinds from agentic AI coupled with gains from the anticipated recovery in data center GPU sales.

The analysts said that they expect AMD to be “an outsized beneficiary of enterprise agentic AI adoption” due to its position in the server CPU market.

The firm noted that it is still more bullish on Nvidia and Broadcom.

Jefferies: “Server CPU Steals the Show”

Jefferies analysts boosted their price target to $415 from $300 in a note titled, “Server CPU Steals the Show, GPU Ramp On Track.” They signaled they were impressed by the server CPU outlook fueled by data center demand.

“The beat-and-raise wasn’t as large as some estimates but the CPU market narrative meaningfully strengthened, and GPU execution in the back half remains the key swing factor,” they wrote.

Wedbush: “Long Live the CPU Part Deux”

Wedbush increased its price target to $450 from $400, saying that entreprise CPU strength and the promising outlook more than offset weakness in AMD’s gaming segments.

“This time around, AMD delivered in spades with Q1 upside largely driven by better than expected server compute revenues (up over 50% Y/Y) with management guiding for sales to accelerate further in CQ2 (to ~70%+ Y/Y growth),” the analysts wrote.

Bank of America: “Agentic inflection”

BofA hiked its price target to $450 from $310, reiterating AMD as a top AI pick.

“AMD raised its CY30 server CPU TAM to $120bn vs. $60bn prior, on greater emerging agentic AI demand for orchestration CPU,” the analysts said, laying out, “We expect AMD to drive ~50% share, with remaining split between INTC and numerous ARM variants.”

Stifel: “Accelerating Data Center momentum”

Stifel moved its price objective up to $450 from $310 saying that AMD is riding a positive momentum wave.

The analysts outlined their bullish thesis, saying, “We expect AMD’s current momentum in data center, enterprise, and with tier-1 PC OEMs to continue as the company remains on a rapid cadence of new product introductions.

They noted that AMD competitor, Intel, is at the start of a transitionary period.