Shares of semiconductor giant Advanced Micro Devices (AMD) have performed strongly, surging about 64% in April and more than 68% year-to-date. Ahead of the company’s Q1 2026 earnings report on May 5, Cathie Wood’s ARK Invest continued to lower its exposure.
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High conviction NVDA bears now have this Tradr ETFOn May 1, ARK offloaded 36,133 AMD shares valued at approximately $12.8 million. This follows a larger sale on April 30, where the firm sold 172,305 shares for about $58.09 million. Following the stock’s significant rally this year, Wood appears to be locking in profits and managing risk exposure to the semiconductor sector before the quarterly results are released.
Meanwhile, Wall Street analysts remain cautiously optimistic about AMD. While many are encouraged by the strong demand for the company’s AI chips, others are keeping a close eye on valuation and the competitive landscape within the chip industry.
Wall Street’s Take on AMD Ahead of the Print
Market analysts are projecting that AMD will report earnings per share (EPS) of $1.28, which would represent a 33.3% increase over the same period last year. Revenue is also anticipated to grow by approximately 33%, reaching $9.88 billion.
Despite these growth forecasts, analysts are divided on the stock’s immediate potential:
- Northland Securities: Analyst Gus Richard recently downgraded the stock to Hold with a $260 price target. He cautioned that the stock’s recent rally has climbed faster than its underlying fundamentals and noted increasing competition from Nvidia (NVDA).
- Susquehanna: Five-star analyst Christopher Rolland remains bullish, raising his price target to $375. His optimism is fueled by robust demand for EPYC chips and high expectations for AMD’s upcoming AI product pipeline.
- RBC Capital: Analyst Srini Pajjuri raised his price target to $325 from $230 while maintaining a Hold rating. He expects a “beat and raise” performance but noted that AMD has lower CPU exposure than Intel (INTC) and faces ongoing wafer supply constraints.
Is AMD Stock a Buy or Sell Now?
Overall, Wall Street has a Moderate Buy consensus rating on Advanced Micro Devices stock based on 18 Buys and nine Holds. The average AMD stock price target of $300.46 indicates about 17% downside risk.
