Despite the June volatility leaving Advanced Micro Devices (NASDAQ: AMD) stock effectively flat in the last three weeks, the semiconductor giant’s earlier 2026 success has led to a deluge of bullish Wall Street forecast revisions.
The latest in the series was issued on Wednesday, June 17, when Bernstein’s Stacy Rasgon decided to upgrade his previous $525 price target to a substantially higher $600, for a 17.08% estimated rally from $512.48 at the latest close.
According to the Wall Street analyst, AMD is well positioned to benefit from the rising server demand driven by continued proliferation and adoption of artificial intelligence (AI), as the semiconductor giant is already consistent with the stronger central processing unit (CPU) environment.
Along with the price target upgrade, Rasgon issued an ‘Outperform’ rating – a ‘Buy’ recommendation – for Advanced Micro Devices stock.
Wall Street sets AMD stock price target for the next 12 months
Wall Street has been almost universally bullish toward AMD shares since June started, despite the rising debate about the costs of AI and, more recently, the leaked financial documentation pertaining to OpenAI in 2024 and 2025.
Indeed, the blue-chip chipmaker is, overall, considered a ‘Strong Buy’ with an average predicted 4.14% decline to $491.27 in the coming 12 months, per the data Finbold retrieved from TipRanks on June 18.
The notes issued since June started are in line with the general Wall Street sentiment – though the associated price targets highlight the speed of the stock’s preceding rally – with seven ‘Buy’ recommendations, one ‘Neutral’ rating, and no ‘Sell’ rankings.
Simultaneously, the month’s first reassessment – the one provided by Barclays’ Thomas O’Malley – was the most optimistic, as it set its sights on AMD stock rising to $665.
On the flip side, despite rating the equity as a ‘Buy, Wells Fargo’s (NYSE: WFC) Aaron Rakers was the most conservative when he forecasted a 1.46% drop to $505 in the next 12 months.
Lastly, despite issuing a ‘Neutral’ recommendation, RBC Capital analyst Srini Pajjuri estimated Advanced Micro Devices shares would rally 5.37% to $540.
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