Where Will AMD Stock Be in One Year? Top Investor Weighs In

Advanced Micro Devices (NASDAQ:AMD) stock has already delivered 282% gains over the past year, yet one top investor believes it could still have meaningful upside during the coming year.

According to Pythia Research, a 5-star investor ranked among the top 3% of stock pros tracked by TipRanks, Wall Street may still be underestimating AMD’s longer-term position within the AI infrastructure market. The investor believes that AMD is evolving beyond a traditional chipmaker into a broader AI systems company, a transition that could support much stronger earnings growth during the coming years.

At the core of that outlook is AMD’s push to move beyond standalone CPUs and AI accelerators toward what CEO Lisa Su describes as “fully integrated rack-scale solutions.” Rather than simply supplying chips, AMD appears determined to participate in a much larger share of AI infrastructure spending across hyperscalers and enterprise customers.

The company’s messaging already reflects that direction. AMD now spends far more time discussing “platforms,” “rack-scale systems,” and “end-to-end solutions,” suggesting the company sees its future opportunity extending well beyond individual hardware products.

Pythia believes this strategy could become extremely valuable if AMD succeeds in embedding itself more deeply into long-term AI deployment cycles. Products such as EPYC Venice, MI450, Helios, and MI500 are all being designed to function as part of integrated AI systems, giving AMD an opportunity to expand its presence across entire data center deployments.

There are also signs that customers are responding positively to the company’s broader approach. Pythia points to AMD’s relationship with Meta Platforms, describing the partnership as “deep and extensive,” while noting that the two companies are collaborating on AI deployments involving gigawatt-scale capacity planning.

Moreover, Pythia was encouraged by comments from Su on the company’s most recent earnings call, which seemed to imply that more of AMD’s sales are moving “from short-term orders to long-term planning of the deployment of the systems.”

Even though AMD’s valuation looks “rich” when considering trailing earnings or even the FY2026 numbers, Pythia thinks it’s very likely that the company could increase its EPS from an expected EPS of ~$7.30 this year to $18 by 2028. The investor also suggested that even this projection could ultimately prove conservative.

And that leaves Pythia feeling buoyant about where AMD could find itself going forward.

“In my view, there would be nothing unreasonable about AMD managing to hit an EPS of $15 and reach a valuation of over $600,” concludes Pythia, who rates AMD a Strong Buy. (To watch Pythia Research’s track record, click here)

Wall Street also has a thing for AMD. With 27 Buys and 8 Holds, AMD saunters out to a Moderate Buy consensus rating. However, its 12-month average price target of $449.21 implies that its share price will stay rangebound for the foreseeable future. (See AMD stock forecast)

Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.