Although Advanced Micro Devices Inc. (NASDAQ: AMD) stock has rallied over 167% year-to-date (YTD), Kevin Cassidy, a Wall Street analyst at Rosenblatt, expects further upside to reach a new all-time high (ATH) over the next 12 months.
Cassidy reiterated a ‘Buy’ rating for AMD stock, according to a note sent to clients on September 29, 2026. He also reaffirmed the firm’s 12-month price target for Advanced Micro Devices at $700.
With AMD stock price trading at approximately $618.71 on Tuesday, this analyst suggests a possible 13.14% upside over the next 12 months.
This bullish thesis is based on AMD’s strategic $8.2 billion all-stock acquisition of World Labs, a startup launched to bridge the gap between two-dimensional generative artificial intelligence (AI) and three-dimensional spatial understanding.
Rosenblatt emphasizes that the rapid evolution of the AI market increasingly demands cross-disciplinary capabilities across both hardware and software. As such, Cassidy concluded that AMD’s decisive move to absorb World Labs strengthens its position against semiconductor competitors.
AMD stock price prediction
At the time of writing, 36 Wall Street analysts surveyed by TipRanks over the last 3 months have set an average price target of $648.07, for the next 12 months. As a result, these experts have issued a ‘Strong Buy’ rating for AMD stock, signaling a possible rally towards a new peak over the coming 12 months.
The highest AMD stock price prediction from these sampled analysts is $1,250 from Tristan Gerra at Baird, while the lowest is $465 from Joseph Moore at Morgan Stanley (NYSE: MS).
Is AMD a good stock to buy?
Wall Street analysts are indicating bullish sentiment for Advanced Micro Devices, amid its strong uptrend catalyzed by the AI boom.
With AMD stock price having established a rising trend YTD, characterized by several higher highs and lows, Wall Street expects a further rally for this company.
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