Advanced Micro Devices (AMD) stock has seen major growth since the start of the AI boom, as shares have rallied more than 270% over the past year. The stock has also performed well so far in 2026, sparking bullish analyst coverage. However, some investors may be wondering if now is the right time to buy AMD stock. There’s a strong case for purchasing AMD stock soon.
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Explore NVDS for 2X short leverage on NVDAAMD stock was only up slightly today, suggesting that now might be the right time to invest in the company. Traders could also wait for a significant downside before taking a stake in the shares. The real problem with doing so would be missing out on potential growth from an upcoming catalyst.
One major catalyst that could boost AMD stock higher is rival Nvidia’s (NVDA) earnings report. This will be released after markets close on Wednesday. Depending on how Nvidia performs, AMD stock could rally alongside the GPU maker. Nvidia will likely report strong results as increased AI demand has benefited its business. This means that AMD stock will likely rally alongside NVDA stock after earnings are released, suggesting that now may be a good time to buy before the price of the shares rises.
Where Does the Top Analyst Covering AMD Stand on the Stock?
Five-star Rosenblatt Securities analyst Kevin Cassidy is the most accurate and most profitable analyst covering AMD stock over both the short term and the long term. He’s also ranked 47th overall out of 12,237 Wall Street analysts, lending weight to his analysis. Cassidy’s stance on AMD is bullish, with a Buy rating and a $490 price target, suggesting a possible 16.46% upside for the shares.
Investors will also note that AMD stock recently received updated coverage from five-star Citi analyst Atif Malik. He boosted his price target for AMD to $460 but maintained a Hold rating.
How Has AMD Stock Performed Today?
AMD stock was up slightly on Tuesday, extending a 97.14% year-to-date rally. Trading activity was light today, as some 24.53 million shares changed hands. For comparison, the company’s three-month average daily trading volume was about 42 million shares.
