Two Wall Street Firms Raise AMD Stock Price Target To $700

Advanced Micro Devices, Inc (AMD) continues to be a favorite among Wall Street analysts. Stifel Nicolaus’ Ruben Roy has raised AMD’s stock price target from $635 to $700, an upside of 10.80% from current price levels. Meanwhile, Mizuho Securities’ Vijay Rakesh has raised their expectations from $580 to $705, an upside of about 11.60%. Let’s discuss why Wall Street is raising AMD’s stock price target.

Why Is Wall Street So Bullish On AMD Stock?

AMD has been one of the best-performing stocks of the last year. The AI boom has been one of the company’s biggest winning moments in its history. AMD is one of the only companies that is competing directly with industry leader, Nvidia (NVDA). While there are other chip manufacturers like Intel, AMD seems to be the one that is bringing the fight to the big dog. This may be making AMD a very attractive company for Wall Street. Competition often leads to better innovation, and consequently, better gains. Wall Street analysts are likely betting on AMD to continue riding the ongoing AI wave.

AMD is expected to release its third quarter financial report on November 3, 2026. Many anticipate the company’s Helios chip sales to reflect high revenue in the November earnings report. It is possible that Wall Street analysts are reiterating their outlook on AMD ahead of the Q3 earnings report. We may see many more Wall Street analysts follow Stifel Nicolaus and Mizuho Securities’ trajectory, and raise AMD’s stock price target.

AMD’s data center business is currently one of its biggest cash cows. The trend is unlikely to change over the coming years, given the high demand for AI model training. We will likely see data centers continue to be the top earning business for AMD in its next report. The company’s growing data center ventures is likely another reason why Wall Street analysts continue to remain bullish on its stock.