While Advanced Micro Devices (NASDAQ: AMD) has been advancing relentlessly in the 2026 stock market and rallied 64% to $351.21 year-to-date (YTD), Wall Street remains divided on the blue-chip chipmaker.
The latest example of the uncertainty regarding AMD’s future came on Monday, April 27, when Gus Richard of Northland Securities downgraded his rating of the shares from the previous ‘Outperform’ – ‘Buy’ – to ‘Market Perform’ – ‘Hold.’
Simultaneously, the analyst’s note came with a $260 12-month price target for the semiconductor stock, showing that a 25.97% decline is now expected.
Richard cited growing competition from other chipmakers and Nvidia’s (NASDAQ: NVDA) strengthening partnership with TSMC (NYSE: TSM) as major reasons for the downgrade, as they limit Advanced Micro Devices’ growth potential.
Elsewhere, Citi’s (NYSE: C) Atif Malik reiterated his previous ‘Hold’ rating with an even more bearish $248 forecast, highlighting the perceived unsustainability of AMD’s 2026 rally despite the strong demand for its chips and Intel’s (NASDAQ: INTC) recent blockbuster earnings reinforcing confidence in the sector.
Wall Street predicts AMD stock price target
Zooming out reveals that the two April 27 notes are significantly more bearish regarding AMD stock than the Wall Street average. Indeed, the semiconductor giant boasts a ‘Moderate Buy’ overall rating and a $295.04 12-month price target, per the data Finbold retrieved from the equity analysis platform TipRanks on Monday.
At press time, the most bullish forecast was provided as recently as Friday, April 24, when D.A. Davidson analyst Gil Luria gave out a ‘Buy’ recommendation and a sky-high forecast of $375, signaling a further 6.78% rally is highly likely.
The lowest price target, on the other hand, was assigned in mid-March when Srini Pajjuri of RBC Capital predicted AMD stock would crash 34.51% to $230.
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