Goldman Sachs just handed AMD its second massive price target bump in roughly two months, lifting its outlook to $640 from $450 while keeping a Buy rating on the stock. That’s a 42% increase from the prior target, which itself was already an aggressive call.
For context, back in May 2026, Goldman had raised its AMD target from $240 to $450. So in the span of weeks, the bank has effectively repriced its AMD thesis by nearly triple the starting point.
What’s driving the upgrade
Goldman’s bullish thesis centers on AMD’s accelerating market share gains in AI infrastructure, where demand for GPUs and accelerators continues to outstrip supply. AMD has been positioning its MI-series accelerators as viable alternatives to Nvidia’s market-leading hardware.
Broader semiconductor optimism
