TLDR
- Citi upgraded AMD to Buy on June 12, raising its price target to $575 from $460, citing underpriced GPU upside
- BofA also raised its price target to $560 from $500, reiterating Buy, and lifted its 2030 server CPU TAM forecast to over $170 billion
- AMD opened at $511.57 on Monday, up 4.73%, near its 52-week high of $546.44
- CEO Lisa Su sold 125,000 AMD shares on June 10 at an average of $460.69, totalling over $57.5 million
- Insiders have sold $158.6 million worth of AMD stock over the past 90 days
AMD is getting a double vote of confidence from Wall Street. On June 12, Citi upgraded AMD to Buy from Neutral and raised its price target to $575, up from $460. Then on June 11, BofA raised its target to $560 from $500 and kept its Buy rating in place.
Advanced Micro Devices, Inc., AMD
AMD opened at $511.57 on Monday, up 4.73%, putting it close to its 52-week high of $546.44. The stock has moved sharply from its 52-week low of $115.06.
Citi analyst Atif Malik said AMD is “emerging as a legit second source” in the GPU market. The firm believes investors still see AMD mainly as a CPU company, and that the GPU opportunity hasn’t been priced in yet. Citi also sees AMD well-positioned to win a large portion of business from Meta.
BofA Sees Bigger CPU Market Ahead
BofA raised its 2030 server CPU total addressable market forecast to more than $170 billion, up from $125 billion. That implies nearly fivefold growth and a 37% compound annual growth rate between 2025 and 2030.
The bank pointed to agentic AI as a key demand driver. It sees the trend expanding the CPU market and benefiting both x86 players and ARM challengers.
AMD’s most recent quarterly earnings backed up the bullish case. The company reported $1.37 EPS for Q1, beating the consensus estimate of $1.29. Revenue came in at $10.25 billion, ahead of the $9.90 billion estimate, and up 37.8% year-over-year.
AMD has a market cap of $834.17 billion, a P/E ratio of 167.73, and a beta of 2.50. Analysts forecast $6.20 EPS for the full fiscal year.
Insider Sales Draw Attention
Despite the bullish analyst tone, insider selling has picked up. CEO Lisa Su sold 125,000 AMD shares on June 10 at an average price of $460.69, for a total of over $57.5 million. The sale was executed under a pre-arranged Rule 10b5-1 plan.
Director Nora Denzel also sold 8,626 shares on June 2 at $522.00, totalling about $4.5 million.
Over the last 90 days, insiders have sold 372,032 shares worth approximately $158.7 million combined.
Institutional investors own 71.34% of AMD stock. Several smaller funds added new positions in Q4, including Joseph Group Capital Management, Sarver Vrooman Wealth Advisors, and Basepoint Wealth LLC.
The consensus analyst rating on AMD sits at “Moderate Buy,” with 29 Buy ratings, 13 Hold ratings, and one Sell. The consensus price target is $424.59, though the two most recent upgrades are both well above that figure.
AMD’s 50-day moving average is $386.41 and its 200-day moving average is $274.60.
🚨 Our JUNE Stock Picks Are Live!
A new month means new opportunities. Our analysts have just released their top stock picks for June, highlighting companies with strong momentum that rank highly on our KO Score algorithm. We’re also now sharing trade ideas for both long-term and short-term investors, giving you more ways to spot potential opportunities in the market.
Sign up to Knockout Stocks today and get 50% off to unlock the full list and see which stocks made the cut.
Use coupon code Special50 for your exclusive discount!
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
