Following several years of relative stagnation despite the acceleration of the artificial intelligence (AI) boom, the stock of Advanced Micro Devices (NASDAQ: AMD) entered a strong rally in 2026, effectively doubling in value from $214.16 at the end of 2025 to $460.43 at press time on May 13.
The upsurge apparently led many Wall Street analysts to set aside their long-standing concerns regarding AMD shares’ valuation and turn increasingly bullish on the equity.
Vijay Rakesh of Mizuho Securities reinforced the growing trend on May 12 when he confirmed a ‘Buy’ rating for the blue-chip chipmaker and raised his 12-month price target from $415 to $515, effectively shifting his forecast from a 9.87% decline to a 11.85% rise.
According to the analyst, the upgrade was driven by a belief that agentic AI will continue fueling demand, but also by the strong results unveiled in Advanced Micro Devices’ most recent quarterly report, unveiled on May 5.
Wall Street sets AMD stock price target for next 12 months
Examining the Wall Street consensus reveals equally the rising confidence in AMD’s rally, and the speed of the equity’s rise.
Specifically, despite being overall rated ‘Strong Buy,’ the semiconductor giant’s shares are, on average, expected to slightly decline relative to the latest close to $447.70, per the data Finbold retrieved from the stock analysis platform TipRanks.
Still, the distribution of recommendations and price targets reveals that the least part of the setup is due to the consensus rating resulting from all notes issued within the last three months.
Indeed, AMD stock was changing hands at $213.58 on February 11, meaning that the press time average price target is actually 109.62% above the price held approximately 90 days earlier.
Elsewhere, it is noteworthy that Wall Street is still not universally confident that Advanced Micro Devices will retain its momentum. Out of the 15 revisions provided in the last week, 26.67% – four – actually positioned AMD as a ‘Hold.’
Out of these, Northland Securities analyst Gus Richard was the least bullish when he rated the semiconductor giant as ‘Hold’ and assigned a $320 12-month price target for a 30.50% downside. Notably, however, the relatively bearish forecast was nonetheless a significant upgrade from the previous $260 prediction.
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