On the morning of Monday, July 6, Goldman Sachs (NYSE: GS) analyst James Schneider revised his 12-month outlook for the world’s second-largest semiconductor company, Advanced Micro Devices (NASDAQ: AMD).

According to the note, the Wall Street expert lifted his AMD price target from the previous $450 to $640 and retained the ‘Buy’ rating. Considering the blue-chip chipmaker is, at press time, trading at $559.85, it is likely the change is primarily to bring the forecast in line with both the actual stock market performance and the continued bullish outlook.

The move also represents an important show of confidence amidst the latest developments within the wider artificial intelligence (AI) space, considering the analyst’s previous note explicitly cited the expected tailwinds from agentic AI and continued data center GPU demand as reasons for the lift. 

Wall Street sets AMD stock price target for the next 12 months

Elsewhere, Goldman Sachs’ latest rating of AMD stock is largely in line with the consensus view on Wall Street. Specifically, the chipmaker is overall considered a ‘Strong Buy,’ with data Finbold retrieved from TipRanks on July 6 showing that 28 out of the 35 analyst who voiced their opinion in the last three months see it as such.

Still, the average price target gives some room for caution as it estimates that AMD shares will fall 8% to $515.69 in the coming 12 months, though, notably, James Schneider is not the only Wall Street expert to anticipate a rally instead.

AMD stock soars 150% in 2026

Meanwhile, Advanced Micro Devices has been among the best-performing major stocks in the U.S. market so far in 2026. With its press time price of $559.85, the semiconductor giant is 150.53% in the green year-to-date (YTD).

Furthermore, despite June’s general slowdown in the technology sector, AMD shares are up 14.18% over the last 30 days.

Lastly, despite the scale of its YTD rally, the firm headed by CEO Lisa Su is not the top-performing semiconductor company of 2026, with the President Donald Trump administration-backed Intel (NASDAQ: INTC) rising 218.55% since January 2 – the first regular session of the year. 

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