Advanced Micro Devices (AMD) had a breakout year in 2025, shaking off its image as an AI laggard as it expanded its AI-focused product lineup, won key hyperscaler deals with OpenAI (PC:OPAIQ) and Oracle (ORCL), and delivered strong growth in AI-driven data-center revenue. In Q3 2025, the data-center segment posted a record $4.3 billion in revenue, up 22% year over year.
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Heading into 2026, Wall Street analysts remain bullish on AMD’s long-term outlook, with forecasts pointing to around 40% upside in the stock over the next twelve months.
Here’s what some top analysts are saying about AMD stock.
Analysts Are Upbeat on AMD Stock
Top Piper Sandler analyst Harsh Kumar reiterated an Overweight rating on AMD and kept his $280 price target after a recent call with management ahead of the company’s next major AI launches. Kumar said he is confident in AMD’s near- and mid-term growth drivers, pointing to the ongoing ramp of the MI300 chips and early progress toward the MI400 series. He added that AMD is winning new customers by offering strong performance at a lower total cost across chips, networking, and software.
Looking ahead, the 5-star analyst said that Helios, AMD’s rack-level AI system, could be a major long-term driver. Management said AMD will not sell Helios directly, but will license designs to partners while supplying the core chips. Kumar also noted that AMD’s ROCm software is now much more mature and is being used by large AI model builders. However, China continues to remain a challenge due to trade limits.
Likewise, Raymond James analyst Simon Leopold resumed coverage of AMD with a Buy rating and a $377 price target. The 5-star analyst said AMD remains a key supplier of CPUs, APUs, and GPUs, and pointed to new deals with OpenAI and HUMAIN, which he values at about $15 billion in 2026 and more than 2 GW in 2027. Looking ahead, Leopold expects AMD to continue gaining share in both the server and PC markets.
Meanwhile, this week, five-star Daiwa analyst Louis Miscioscia also reiterated a Buy rating and a $300 price target for AMD stock, suggesting a possible 49% upside for the stock.
Is AMD Stock a Buy, Sell, or Hold Before 2026?
Turning to Wall Street, the analysts’ consensus rating for AMD is Strong Buy, based on 29 Buy and nine Hold ratings over the past three months. With that comes an average AMD stock price target of $282.39, representing a potential 40.45% upside for the shares.
