Even though Advanced Micro Devices Inc. (NASDAQ: AMD) stock rallied to a new peak over the past four weeks through October 5, 2026, Ruben Roy, a Wall Street analyst at Stifel Nicolaus, has elevated his 12-month price target.
Roy raised the firm’s 12-month price target for AMD stock to $700 from $635, representing a 10.24% increase. He reiterated a ‘Buy’ rating for Advanced Micro Devices stock, according to a note sent to clients on Monday.
With AMD’s price hovering at $630.97 at the time of writing, the analyst signals a possible 10.94% upside for this stock over the next 12 months.
This upward adjustment is based on strong expectations of beat-and-raise financial results for the company’s September quarter, reinforced by constructive momentum in its EPYC central processing units. Furthermore, Roy argued that near-term structural strength for Advanced Micro Devices is further bolstered by the company’s initial revenue from the MI450 accelerator line.
“Stifel expects beat-and-raise results and sees EPYC upside supporting AMD’s near-term setup,” the analyst noted.
Heading into the September-quarter reporting season, Stifel Nicolaus sees artificial intelligence (AI) infrastructure deployment as supply-gated, not demand-gated. As such, Roy expects Advanced Micro Devices to benefit through further upside.
AMD stock forecast
At the time of reporting, 36 Wall Street analysts surveyed by TipRanks over the past three months have set an average 12-month price target for AMD stock at $650.31. This strong buy recommendation for this company indicates a possible 2.95% upside.
Is Advanced Micro Devices a good stock to buy?
Over the past 12 months, AMD’s price has surged by more than 209%, thereby pushing its market capitalization to roughly $1 trillion.
Amid a strong AI-driven rally, Wall Street analysts are predicting less upside for AMD stock over the next 12 months compared to the past.
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