A Wall Street analyst is projecting that Advanced Micro Devices (NASDAQ: AMD) stock could see further momentum over the coming year.
In this line, an analyst at Cantor Fitzgerald has raised the AMD stock price target to $700 from $500 while maintaining an ‘Overweight’ rating on the semiconductor giant.
The updated target implies potential upside of more than 34% from AMD’s last closing price of $521.58.
Cantor Fitzgerald analyst C.J. Muse’s latest outlook reflects growing optimism about AMD’s momentum in the compute segment, where demand for AI infrastructure, data center chips, and advanced computing solutions remains strong.
The firm highlighted AMD as having some of the strongest momentum among compute-focused companies.
The higher AMD analyst price target also points to confidence in the company’s ability to capitalize on ongoing AI-related spending across the technology sector.
Major cloud providers and enterprise customers continue to invest heavily in AI infrastructure, creating opportunities for semiconductor companies supplying the necessary hardware.
Wall Street outlook on AMD stock
Meanwhile, according to broader Wall Street data, AMD maintains a ‘Strong Buy’ consensus rating based on 35 analyst reviews.
Among those analysts tracked by TipRanks, 28 recommend buying the stock, while seven suggest holding it. No analysts currently rate the shares as a sell.
The average AMD stock forecast on Wall Street stands at $503.85, with the highest price target at $700 and the lowest at $250.
While the consensus target suggests limited movement from current levels, the latest upgrade from Cantor Fitzgerald points to continued bullish sentiment among some analysts regarding AMD’s long-term growth prospects.
