On Friday, June 12, Citi (NYSE: C) analyst Atif Malik revised his previous Advanced Micro Devices (NASDAQ: AMD) stock 12-month target while simultaneously upgrading his rating for the equity.
Specifically, following AMD shares’ latest rally – the semiconductor giant soared nearly 8% in the Thursday session – the Wall Street expert replaced his previous $460 forecast with a new $575 estimate for a 15.93% rally from $496 at press time.
Malik noted Advanced Micro Devices’ strengthening position as a GPU supplier for the artificial intelligence (AI) boom, while noting it could take the “lion’s share” of possible revenue from Meta Platforms (NASDAQ: META).
The analyst also highlighted that AMD appears to be trading as a CPU equity, providing significant room for a rally before upgrading his rating from ‘Neutral’ to ‘Buy.’
Wall Street sets AMD stock price target for next 12 months
Zooming out reveals a rising bullish sentiment regarding the blue-chip chipmaker on Wall Street.
Indeed, analysts have, through most of 2026, been reassessing their previous valuation concerns, and by press time on June 12, AMD is overall considered a ‘Strong Buy’ with but a handful of remaining ‘Neutral’ ratings on the stock analysis platform TipRanks.
Despite the growing optimism, the speed of the semiconductor giant’s 2026 rally is still evident in the average 12-month price target, which still forecasts only a moderate 0.11% rally from its latest close of $488.45 to $489.
The most recent Wall Street AMD stock rating revisions, however, indicate that the overall forecast is set to grow higher in the near future, as RBC Capital’s Srini Pajjuri stands as an exception among his peers for issuing the singular ‘Hold’ rating since June started.
Furthermore, despite being neutral, the analyst still forecasted Advanced Micro Devices would rally 8.97% to $540 before the end of the first half of 2027.
2026 AMD stock price chart
Elsewhere, the growing number of bullish recommendations appears directly linked to AMD stock’s remarkable success in 2026. Year-to-date (YTD), the equity is up 131.60% from $214.16 at the end of 2025 to $496 at press time.
Furthermore, the semiconductor giant has, overall, managed to retain the uptrend through the early June turmoil, given it remains, despite the 2.28% weekly drop, nearly 9% in the green in the monthly chart.
Featured image via Shutterstock
