Advanced Micro Devices (AMD) stock was up on Tuesday after the semiconductor company received bullish coverage from a top Wall Street analyst. Four-star Phillip Securities analyst Yik Ban Chong upgraded AMD stock to a Buy rating from a Neutral rating. The analyst also set a $280 price target for AMD shares, representing a possible 41.49% upside.
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Chong’s switch to a bullish stance on AMD is a welcome one, as the stock has been weighed down so far in 2026. Much of that drop is tied to a tech sector selloff, as investors grow weary of AI. The AI boom caused many tech stocks, AMD included, to see massive gains in 2025. However, a long road to development, supply issues, and a lack of profit from AI have investors concerned.
AMD is especially affected by the AI market. The company makes CPUs and GPUs that are used in servers, which populate AI data centers and power AI applications. AMD has also dedicated time and money to the development of AI-focused server racks to capitalize on the recent interest in the technology. However, the rising costs of AI and consumer resistance to the technology could spell trouble for AI companies and their suppliers.
AMD Stock Movement Today
AMD stock was up 1.37% on Tuesday but was still down 7.2% year-to-date. Despite that drop, the stock remained up 90.74% over the past 12 months.
Trading activity today saw some 13.8 million AMD shares change hands, compared to a three-month average daily trading volume of about 33.88 million shares.
Is AMD Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for AMD is Moderate Buy, based on 21 Buy and eight Hold ratings over the past three months. With that comes an average AMD stock price target of $285.16, representing a potential 44.35% upside for the shares.
