Advanced Micro Devices (AMD) reported strong Q1 2026 earnings, beating expectations on surging AI-driven demand. The results sparked a rally in the stock, which jumped over 15% at the market open on Wednesday. Wall Street analysts also turned more bullish, issuing Buy ratings and raising price targets following the results. Here’s what analysts are forecasting for the stock now.
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For context, AMD designs high-performance processors and graphics chips used in PCs, data centers, gaming systems, and AI infrastructure. In Q1, adjusted earnings per share rose 42.7% year-over-year to $1.37, beating estimates of $1.29. Revenue climbed 38% year-over-year to $10.3 billion.
Analysts Upgrade AMD Stock to Buy
Top analysts are turning more bullish on AMD stock, with multiple upgrades to Buy ratings.
Seaport Research analyst Jay Goldberg upgraded AMD to Buy from Hold with a $430 price target, citing strong near-term CPU demand and an increasingly attractive outlook for its GPU business. He also pointed to management’s comments on better-than-expected chip allocation from TSMC (TSM).
Similarly, Goldman Sachs’ five-star-rated analyst James Schneider upgraded AMD to Buy, highlighting tailwinds from agentic AI adoption and rapid growth in data center GPUs. He expects AI-driven workloads to boost server CPU demand, with AMD well-positioned to benefit from this trend.
Analysts Raise Price Targets on AMD Stock
Meanwhile, several analysts raised their price targets on AMD stock. For instance, Morgan Stanley’s top-rated analyst Joseph Moore raised his price target on AMD to $410 from $360 while maintaining a Hold rating. Moore noted that near-term results were slightly ahead of expectations, but said its longer-term forecasts remain largely unchanged.
Likewise, Stifel’s five-star-rated analyst Ruben Roy upgraded his price target to $450 from $320 and reiterated a Buy rating, calling the quarter a “strong beat-and-raise.” Roy emphasized AMD’s more bullish outlook for the server CPU market, now expected to grow at over 35% annually and potentially exceed $120 billion by 2030.
Who Are the Best Analysts Covering AMD Stock?
Five-star-rated analyst Kevin Cassidy at Rosenblatt Securities is the most accurate analyst covering AMD over the past three months. He has a success rate of 80% and an average return of 31.79% per trade. On TipRanks, Cassidy is ranked #63 out of more than 12,000 analysts tracked.
Following the earnings, Cassidy also raised his price target to $490 from $300 and reiterated a Buy rating. He described the results as a “beat-and-raise” quarter, driven by strong demand for server CPUs as agentic AI adoption accelerates and boosts productivity.
Cassidy also stands out as the most profitable analyst covering AMD stock over the timeframes of three months, one year, and two years.
What Is the Price Target of AMD Stock?
Turning to Wall Street, analysts have a Strong Buy consensus rating on AMD stock based on 26 Buys and eight Holds assigned in the past three months. The average AMD stock price target of $431.74 indicates 21.53% upside potential.
These ratings/price targets might be revised as more analysts react to the results.
