On Thursday, September 24, Bank of America (NYSE: BAC) revealed its estimate that Advanced Micro Devices’ (NASDAQ: AMD) recent stock market advance will continue, albeit at a slower pace than in the previous 12 months.
Specifically, BofA analyst Vivek Arya reiterated his previous ‘Buy’ rating but replaced his previous $620 price target for September 2027 – a 1.47% estimated drop from $629.26 at the latest close – with $720 – a 14.42% forecasted rally.
The ‘agentic’ artificial intelligence (AI) demand for compute and the Anthropic/Akamai CPU infrastructure deal can greatly benefit Advanced Micro Devices as they reinforce the importance of central processing units (CPUs), per the Wall Street expert’s note.
Additionally, Arya unveiled that his banking giant’s models for the growth of the total addressable CPU market indicate remarkable gains through the rest of the decade: from $61 billion in 2026 to $211 billion in 2030, for a 245.90% increase.
Wall Street sets AMD stock price target for the next 12 months
While zooming out is, arguably, unable to offer insights into the current expectations for how AMD stock will perform by the third quarter (Q3) of 2027 due to the equity’s rapid rise in September, it nonetheless highlights the overwhelming Wall Street bullishness.
Indeed, Advanced Micro Devices shares are, overall, considered a ‘Strong Buy,’ with thirty positive, six ‘Hold’, and no sell recommendations, per the data Finbold retrieved from TipRanks on September 25.
Meanwhile, the average AMD stock price target for the next 12 months stands at $648.07, 2.99% above the latest close.
AMD market capitalization soars above $1 trillion for the first time
Lastly, while the blue-chip chipmaker has been one of the most impressive equities of 2026 overall, the last ten days proved a standout period.
Year-to-date (YTD), AMD shares are 181.59% in the green, but they rallied 120.79% from $223.37 to $493.41 between January 2 and September 14, and then another 27.56 since last Monday to $629.26 at the Thursday closing bell and 29.62% to $639.56 at press time in the Friday pre-market.
The September upsurge also pushed Advanced Micro Devices above a $1 trillion market capitalization for the first time in the company’s history.
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