TLDR
- AMD stock is up 108% year-to-date and 280% over the past 12 months, with a current price around $445.
- Robert W. Baird analyst Tristan Gerra raised his price target to a Street-high of $625, implying nearly 40% further upside.
- AMD posted Q1 revenue of $10.25 billion, beating estimates of $9.90 billion, with data center revenue hitting a record high.
- Multiple major banks, including Mizuho and Bank of America, have raised their price targets, citing strong AI infrastructure demand.
- Institutional investors have been increasing their positions, while some insiders have been selling in recent months.
AMD has had one of the most talked-about runs in the semiconductor space over the past year. The stock opened Thursday around $445, and is up over 108% so far in 2025. Over the last 12 months, it has gained roughly 281%.
Advanced Micro Devices, Inc., AMD
The recent momentum follows a strong Q1 earnings report. AMD posted revenue of $10.25 billion, ahead of the $9.90 billion analysts expected. Earnings per share came in at $1.37, beating the $1.29 consensus estimate. Data center revenue hit a record high, and year-over-year revenue growth was 37.8%.
Wall Street took notice. Mizuho raised its AMD price target to $515 and kept its Outperform rating, pointing to strong demand for agentic AI servers. Bank of America lifted its target to $500, citing continued AI infrastructure spending. Cantor Fitzgerald set a $500 target with an Overweight rating.
Analyst Raises Price Target to Street-High $625
The most bullish call came from Robert W. Baird analyst Tristan Gerra. He reiterated a Buy rating and lifted his price target from $300 to $625 — the highest target on Wall Street. That implies roughly 40% upside from current levels.
Gerra’s case centers on CPUs, not just GPUs. While much of the AI story so far has been about GPU-heavy training workloads, agentic AI systems are expected to lean more heavily on CPUs. Gerra forecasts the CPU market will grow at a 35% compound annual growth rate through 2028 to 2030, reaching $120 billion by 2030.
He also expects AMD’s data center revenue to grow 70% year-over-year in Q2, which would be another strong quarter if it materializes.
AMD’s product pipeline is part of the bull case too. The company is set to launch its Helios AI server rack solution later this year, which is designed to help AMD compete more directly in the AI data center market. AMD also has AI chip deals in place with Meta and OpenAI for its next-generation MI450 chips.
Institutional Buying Picks Up, Insider Sales Continue
Institutional investors have been adding to AMD positions. Impax Asset Management increased its holdings by 326%, and Zweig DiMenna Associates raised its stake by 127%. William Blair Investment Management added over 440,000 AMD shares during the period. Around 71% of AMD stock is now held by institutional investors.
On the other side, insiders have been selling. CEO Lisa Su sold 85,000 shares in March at an average of $198.77, bringing in roughly $16.9 million. EVP Paul Grasby sold 24,376 shares in early May at $444.39, totalling just over $10.8 million. Over the last quarter, insiders sold nearly 185,000 shares worth close to $50 million.
Despite the bullish analyst sentiment, not everyone is fully on board. HSBC downgraded AMD from Buy to Hold, though it raised its price target to $340. Northland Securities raised its forward estimates but kept a Market Perform rating with a $260 target. Some analysts have flagged the potential for profit-taking after the stock’s sharp rally.
The broader Wall Street consensus sits at Strong Buy, based on 27 Buy ratings and 8 Hold ratings over the past three months. The average price target among analysts is $449.21.
AMD’s 52-week low is $107.67. The stock’s 52-week high is $469.21.
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