AMD has been on an absolute tear in 2026. The chipmaker’s stock has more than doubled year-to-date, with gains reaching as high as 150% over recent months, pushing shares to all-time highs near $500.
The rally is built on genuinely impressive fundamentals. Q1 2026 revenue hit $10.25 billion, a 38% jump from the same period last year. The engine behind it: data center revenue surging 57% year-over-year to $5.8 billion, fueled by soaring demand for AI-driven workloads.
Wall Street keeps raising the bar
Analysts are raising price targets. Barclays lifted its target to $500, KeyBanc went to $530, and Baird pushed all the way to $625. The majority of covering analysts maintain Buy or Strong Buy ratings, despite the stock trading at roughly 150 times trailing earnings.
CEO Lisa Su raised the company’s total addressable market forecast for server CPUs to over $120 billion, projecting growth of more than 35% annually through 2030. Server CPU revenue alone is expected to grow over 70% year-over-year in Q2 2026.
