Advanced Micro Devices’ (AMD) stock has risen 6.5% over the past week, 64.9% over the past month, and an eye-catching 236.5% over the last year. Wall Street’s analysts are moderately bullish, forecasting a move toward an average 12‑month price target of $295.04, which is below the recent last close of $323.21 and suggests expectations have become more cautious after the sharp rally.
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Against this backdrop, top-rated analyst Christopher Rolland of Susquehanna International Group reiterated his Buy rating on AMD on April 29, 2026, while lifting his price target from $300 to $375. That new target implies meaningful upside from current levels and signals his conviction that AMD’s data center and AI businesses will continue to drive growth.
Rolland sees server CPU demand as a key engine, expecting upside in the first quarter and beyond as EPYC chips benefit from AI head nodes and new agentic workloads. Management has guided to strong server growth for 2026, and Rolland is modeling server CPU revenue to grow more than 50% year-over-year, even as the broader PC market remains weak.
On the AI side, he highlights AMD’s MI350 data center GPUs as a major near-term catalyst, with an inflection expected in the fourth quarter, while noting that the ramp could pressure gross margins as GW-scale deals come online. Looking further out, he anticipates a sharper revenue surge in late 2026 with the launch of MI450/Helios, and models total GPU revenue reaching about $17 billion in 2026, supported by large agreements with OAI, Meta, and other hyperscalers.
Rolland also flags mixed trends across AMD’s other segments, with embedded expected to decline in the first quarter before returning to roughly 12% year-over-year growth in 2026 and gaming facing headwinds from weaker console sell-through. Despite forecasting a 10.2% decline in overall PC builds for 2026, he expects AMD’s PC business to grow year-over-year, helped by price increases and enterprise share gains. This N-star analyst ranks 36 out of 12,163 on TipRanks, with a 65.27% success rate and 36.6% average return per rating. Never miss a stock rating. Find all the latest ratings on TipRanks’ Top Wall Street Analysts page.