Despite the most recent slowdown, Advanced Micro Devices (NASDAQ: AMD) remains among the top-performing semiconductor stocks of 2026 with a 100.73% year-to-date (YTD) rally to $429.88.
Under the circumstances, Citi (NYSE: C) analyst Atif Malik strongly hinted that he believes the latest AMD correction is temporary as he set his 12-month price target at $460 for a 7% anticipated rally – significantly higher than the previous $358 forecast.
The Wall Street expert linked the latest revision to the new estimate that the total addressable market for server central processing units (CPUs) will hit $132 billion by 2030, adding a new dimension to the GPU-dominated artificial intelligence (AI) boom.
Furthermore, Malik opined that AMD will likely be able to capture approximately 34% of the total, backing the new price target. Notably, however, the Citi analyst kept his previous ‘Neutral’ rating for Advanced Micro Devices stock, highlighting that the previous valuation concerns remain relevant.
Citi sets Intel stock price target on revised server CPU TAM estimates
Elsewhere, Atif Malik believes that the expected AI server CPU boom will have several other winners, with one of the top blue-chip chipmakers of 2026 – Intel (NASDAQ: INTC) – being the biggest likely winner.
Along with the AMD price target update, the Wall Street expert revised his previous estimate that INTC stock will fall 14.55% to $95 and now anticipates a 16.94% rise to $130 and reiterated the previous ‘Buy’ rating.
Malik believes Intel could capture as much as 47% of the $132 billion of the total addressable market.
INTC shares are up 201.27% to $111.17 in 2026.
Analysts set AMD stock price target for the next 12 months
Elsewhere, Atif Malik’s stance toward AMD stock is somewhat divergent from the view increasingly dominating on Wall Street. For example, his is the only ‘non-Buy’ rating issued for the stock in the last week, and the price target itself is below the average.
Indeed, Cantor Fitzgerald, Daiwa, and Bank of America (NYSE: BAC) all set their sights at $500, while Mizuho Securities proved even more bullish with $515, per the data Finbold retrieved from TipRanks on May 18, 2026.
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