Wolfe Research has reiterated its ‘Outperform’ rating on Advanced Micro Devices (NASDAQ: AMD) while maintaining its $450 price target.
The target implies roughly 11% downside from AMD’s press-time price of $511.
The AMD stock price target update comes as analysts increasingly focus on the company’s next-generation artificial intelligence hardware, particularly the upcoming MI500 and future MI-600 accelerator series.
Wolfe Research analyst Chris Caso reaffirmed the firm’s bullish stance, citing expectations for stronger pricing power and expanding revenue opportunities across AMD’s AI product portfolio.
According to the research note, AMD is expected to provide additional details on its MI500 series during its July Advancing AI event.
The launch is viewed as a key milestone in the company’s efforts to strengthen its position in the rapidly growing AI infrastructure market.
Wolfe Research also expects the MI-600 series to be deployed approximately 12 to 15 months after the MI500 launch, providing greater visibility into AMD’s long-term product roadmap.
The firm believes future AMD GPU generations could command higher pricing as rack-level performance improves with each product cycle.
While next-generation AI systems are expected to consume more power, analysts anticipate AMD’s overall dollar-per-gigawatt opportunity will continue to expand.
A key factor behind the maintained AMD stock forecast is the expectation that content expansion and improved system performance will support higher average selling prices for future AI accelerators.
Wall Street bullish on AMD stock
While Wolfe Research maintained its $450 AMD stock price target, broader Wall Street sentiment remains more constructive. According to TipRanks data based on 35 analyst ratings, AMD carries a ‘Strong Buy’ consensus, with 28 buy ratings, seven holds, and no sell recommendations.
The average 12-month AMD stock forecast stands at $489, implying about 4.4% downside from current levels. The highest analyst price target is $665, while the lowest stands at $250.
The wide range of forecasts reflects both optimism surrounding AMD’s expanding AI accelerator roadmap and uncertainty over future market share gains, pricing trends, and competition in the fast-growing artificial intelligence infrastructure market.
