Advanced Micro Devices (NASDAQ: AMD) posted mixed Q2 2025 earnings on Wednesday, August 5, surprising the market with an overall revenue of $7.7 billion (up 32% year-over-year) but failing to deliver on earnings per share (EPS), which sat at $0.48, down from $0.69 last year.
Accordingly, some Street analysts are already adjusting their AMD price targets for the next 12 months.
AMD price target as high as $210
AMD stock was at one point down more than 9% on Wednesday following the report. However, the long-term outlook is not entirely pessimistic.
On Thursday, August 7, Piper Sandler and Barclays analysts raised their 12-month price targets for AMD to $190 and $200, respectively. As reported by market research platform TipRanks, the two analysts cited “strong data center growth and AI demand” despite the pullback.
As of the time of writing, however, the average AMD stock price projection for the next year is $161.16, which still implies a 7.54% downside from the current levels. The most bullish predictions are slightly above Barclays at $210, while the most bearish numbers go as low as $111.
Looking ahead, AMD forecasts Q3 FY2025 revenue of approximately $8.7 billion, which is a 28% year-over-year increase and a 13% gain from the previous quarter. Likewise, the company expects non-GAAP gross margin to rebound to around 54%.
The numbers exclude any potential revenue from Instinct MI308 shipments to China, which remain pending U.S. government approval. Despite this uncertainty, AMD expects strong demand for its next-generation MI350 AI accelerators and Ryzen consumer processor lines, broadly agreeing with Piper Sandler and Barclays in their growth catalyst estimates.
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