Advanced Micro Devices (AMD) Stock Rises 8% After Intel Earnings Boost AI Demand

TLDR

• AMD rose ~8% in after-hours trading Thursday after Intel’s earnings pointed to stronger-than-expected data center and AI demand
• Stifel analyst Ruben Roy raised his AMD price target from $280 to $320, maintaining a Buy rating
• Roy’s bullish case centers on AMD’s MI450 chips and Helios rack-scale platform, with Meta and OpenAI deployments expected in H2 2026
• AMD’s Wall Street consensus is Moderate Buy, based on 20 Buy and 8 Hold ratings from 28 analysts
• The average analyst price target of ~$288 sits below AMD’s current price of $305, suggesting the recent rally has priced in much of the optimism

AMD caught a lift Thursday after Intel’s quarterly results gave the chip sector a reason to rally. Intel flagged stronger-than-expected server CPU trends and continued AI infrastructure investment, and AMD moved with it.

The after-hours jump was around 8%, driven more by sector sentiment than any AMD-specific news.

Advanced Micro Devices, Inc., AMD

Stifel analyst Ruben Roy, ranked #9 among over 12,000 Wall Street analysts on TipRanks, used the moment to raise his AMD price target from $280 to $320. He kept his Buy rating in place.

Roy’s upgrade isn’t a generic momentum call. It’s tied to specific commitments from Meta and OpenAI, both of which are expected to begin meaningful deployments of AMD hardware in the second half of 2026.

That gives the thesis a concrete anchor rather than a broad AI wave argument.

At AMD’s last trade of $305.33, Roy’s new $320 target implies roughly 4.8% upside from current levels. That’s not a lot of headroom on paper.

The AI Infrastructure Bet

The core of Roy’s argument is that AMD is no longer just a chip company competing on specs. It’s positioning itself as an AI infrastructure player, with its Helios rack-scale platform slated for late 2026.

That shifts how investors should value the stock — less on traditional semiconductor cycles, more on its role inside AI data centers.

Roy described the fundamental setup heading into AMD’s upcoming earnings as “constructive,” while noting that near-term results matter less than what management says about longer-term demand visibility.

He sees AMD’s current price as a floor rather than a ceiling, with earnings power set to grow as large-scale customer deployments ramp through 2026 and into 2027.

AMD has spent the past year making this case to investors — that its revenue mix is shifting toward higher-value data center hardware and systems-level products.

The OpenAI and Meta commitments, if they materialise as planned, would give that story some weight.

What the Street Thinks

Not everyone is as bullish as Roy. AMD’s broader Wall Street consensus sits at Moderate Buy, built on 20 Buy ratings and 8 Hold ratings across 28 analysts. There are no Sell calls.

The average 12-month price target is around $287–$288, which is below where AMD is trading right now.

That gap matters. It means the Street as a whole thinks the stock has already run ahead of its fair value range, even if individual analysts like Roy see more upside.

AMD had gained 31.16% year to date and around 219% over the prior 12 months at the time of the upgrade.

Buying here means buying execution risk — whether AMD can turn its AI partnerships and product roadmap into real revenue growth and margin expansion.

Roy’s $320 target remains the most optimistic on the Street. AMD reports earnings soon, and investor attention will be on management’s commentary around the MI450 and Helios ramp timelines.

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