TLDR
- AMD rose more than 3% in Monday premarket trading, reaching $534.10
- Goldman Sachs raised its price target to $640 from $450, maintaining a Buy rating
- Cantor Fitzgerald lifted its target to $700, the highest on Wall Street, keeping an Overweight rating
- AMD Ventures invested in Japanese autonomous driving startup Turing, which raised $79 million
- Wall Street expects AMD earnings of $1.55 per share on August 4, up from $0.48 a year ago
Advanced Micro Devices stock climbed more than 3% in Monday premarket trading, hitting $534.10, as improving risk appetite pushed AI and semiconductor stocks higher.
Advanced Micro Devices, Inc., AMD
Nasdaq futures were up 1.23% and S&P 500 futures gained 0.47%, giving the broader market a lift heading into the session.
The move came alongside a wave of analyst upgrades. Goldman Sachs raised its price target on AMD to $640 from $450, keeping a Buy rating. Cantor Fitzgerald went further, lifting its target from $500 to $700 — the highest forecast on Wall Street — and maintained an Overweight rating.
Cantor analyst C.J. Muse cited AMD’s strong growth momentum in computing as a reason to favor it over rivals like Nvidia and Broadcom.
UBS also raised its target to $670 on June 24, and Wells Fargo moved its target to $615 on June 30. The consensus analyst rating is Buy, with an average price target of $499.44.
Data Center Growth Driving the Bull Case
AMD’s data center revenue surged 57% year-over-year to $5.8 billion, making up more than half of total company revenue. That growth is backed by the ramp-up of its EPYC Venice server chips and a partnership with Rackspace Technology to deliver 30 megawatts of AI computing power by 2028.
On the technical side, AMD is trading above all key moving averages. It sits about 4% above its 20-day SMA of $516.84 and roughly 16.8% above its 50-day SMA of $460.38. The golden cross that formed in July 2025 is still intact. Immediate resistance sits near $546.50, with key support around $437.
The RSI reads 52.47 — neutral territory — suggesting the next move will be driven by price action rather than overbought or oversold conditions.
AMD Backs Autonomous Driving Startup Turing
AMD Ventures joined as a new investor in Japanese autonomous driving startup Turing Inc., which closed a $79 million Series A extension. The funding values Turing at roughly $600 million, per Bloomberg.
About 10% of Turing’s AI training now runs on AMD GPUs, cutting its dependence on Nvidia hardware and lowering costs ahead of a planned commercial launch in 2028. Turing is developing self-driving software for consumer vehicles and robotaxis and has expanded testing from Tokyo’s outskirts into more congested urban areas.
AMD’s next earnings report is due August 4. Wall Street expects earnings of $1.55 per share, up from $0.48 a year ago, on revenue of $11.28 billion versus $7.68 billion in the prior year period.
AMD trades at around 172.6 times earnings. GuruFocus pegs its intrinsic value at $239.86, putting the stock at a 115% premium to that estimate. Insiders sold $164.5 million worth of stock over the past three months.
AMD carries a momentum score of 98.6 and a growth score of 96.77, but a value score of just 3.43.
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