Piper Sandler has reaffirmed its bullish stance on Advanced Micro Devices (NASDAQ: AMD), maintaining an ‘Overweight’ rating following the company’s third-quarter pre-quiet period discussions with investors.
With the rating, analysts at the firm assigned a $600 price target to the semiconductor giant, implying upside of about 22% from the stock’s current trading level of $502.
The AMD price target update follows the firm’s assessment of the company’s third-quarter pre-quiet period discussions with investors.
Piper Sandler analyst David O’Connor indicated that AMD’s CPU and GPU product ramp-ups remain on track, while demand continues to exceed available supply.
According to the analyst, supply capacity is sufficient to support the company’s existing guidance and could potentially allow AMD to outperform expectations.
O’Connor also highlighted continued momentum across several key growth areas, including Helios server deployments, Venice CPUs, optics, high-bandwidth memory (HBM), and client and gaming segments.
The latest AMD analyst rating comes as the company strengthens its position in the artificial intelligence infrastructure market. Piper Sandler noted that AMD remains one of its preferred ways to gain exposure to the growing agentic AI theme, citing strong execution and favorable demand trends.
Wall Street bullish on AMD stock price
The bullish outlook aligns with broader Wall Street sentiment toward AMD. Based on ratings from 35 analysts tracked by TipRanks, the stock currently carries a ‘Strong Buy’ consensus. Among those analysts, 29 recommend buying the stock while six suggest holding, with no sell ratings recorded.
Wall Street’s average AMD stock forecast stands at $644.62 over the next 12 months, representing potential upside of about 28% from current levels. The highest analyst target is $1,250, while the lowest forecast is $465.
Overall, AMD shares have surged about 125% in 2026 as investors increasingly focus on the company’s expanding AI portfolio and growing data center business.
With demand still running ahead of supply and product launches progressing as planned, analysts remain optimistic about the chipmaker’s growth trajectory heading into 2027.
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