TLDR
- AMD reported $7.4 billion in revenue in Q1 2026, up 36% year over year, driven by record data center growth
- AMD’s Data Center segment hit $3.7 billion, up 57%, fueled by EPYC processors and Instinct GPU demand
- Intel posted $13.6 billion in revenue in Q1 2026, up just 7%, with a GAAP loss of $0.73 per share
- Wall Street rates AMD a Moderate Buy with a $430.68 average price target vs Intel’s Hold consensus at around $83.35
- Intel forecasts Q2 revenue of $13.8 to $14.8 billion, signaling stability but not yet a clear growth story
AMD and Intel are two of the most watched chip stocks on the market. But heading into mid-2026, Wall Street is treating them very differently.
AMD is seen as the growth story. Intel is still trying to prove its turnaround is real.
AMD’s Numbers Tell a Strong Story
AMD reported $7.4 billion in revenue for the first quarter of 2026. That was up 36% from the same period a year ago.
Advanced Micro Devices, Inc., AMD
Net income came in at $709 million on a GAAP basis. The Data Center segment was the standout, generating a record $3.7 billion, up 57% year over year.
That growth was driven by demand for EPYC server processors and Instinct GPU shipments. The Client segment also posted strong results, with revenue up 68% to $2.3 billion.
These numbers show AMD is no longer just a PC chip company. It is now a data center and AI hardware company with real scale.
Wall Street has taken notice. According to MarketBeat, 44 analysts cover AMD. The consensus is Moderate Buy, with 30 Buy ratings, 12 Hold, and just 1 Sell. The average 12-month price target sits at $430.68.
Intel Is Still in Recovery Mode
Intel posted $13.6 billion in revenue in Q1 2026, up 7% year over year. That sounds steady, but the company also reported a GAAP earnings per share loss of $0.73.
On a non-GAAP basis, EPS was $0.29. Management forecast Q2 revenue of $13.8 billion to $14.8 billion, which points to stabilization rather than acceleration.
Intel still has scale. It has a large installed base across PCs, servers, and manufacturing. But it has not shown the same operating momentum as AMD.
The turnaround depends on better CPU execution, progress in its foundry business, and building out AI products. Those improvements have not yet shown up clearly in the numbers.
Analyst sentiment reflects that. MarketBeat shows Intel with a Hold consensus from 41 analysts, including 10 Buy ratings, 26 Hold, and 4 Sell. The average 12-month price target is around $83.35.
The Bottom Line
This comes down to visibility. AMD has clear momentum in data centers and AI hardware, with profits to back it up.
Intel has potential upside if its recovery delivers. But right now, that upside is still dependent on results that have not arrived yet.
AMD is the execution story. Intel is the turnaround bet. Investors need to decide how much uncertainty they are willing to accept.
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