Cantor Fitzgerald analyst C.J. Muse raised his price target on Advanced Micro Devices to $700 from $500 on June 29, 2026. The firm also designated the company as its top pick in the computing sector and maintained an Overweight rating.

Other firms concurrently updated their outlooks. UBS analyst Timothy Arcuri set a price target of $670 for the company, and Wells Fargo analyst Aaron Rakers raised his price target to $615 in the same week. Wells Fargo cited the company's server CPU business as the reason for its outlook. D.A. Davidson analyst Gil Luria maintained a Buy rating on the company.

Overall, price targets for the company from 35 analysts range from $250 to $700, with an average Wall Street price target of $509.75. Shares closed at $580.91 on June 30, 2026, and had gained more than 150 percent year-to-date as of that date. The stock fell nearly 7 percent on July 1, 2026.

Advanced Micro Devices reported first-quarter revenue of $10.3 billion, with a gross margin of 53 percent and diluted earnings per share of 84 cents. Data center sales increased 57 percent to $5.8 billion in the first quarter, accounting for more than half of the total revenue. "The company is seeing strong demand for its high-performance chips, driven by growing use of AI inferencing and autonomous AI agents," said Lisa Su, CEO of Advanced Micro Devices.

In May 2026, the company began ramping up production of its sixth-generation EPYC Venice server chips. Advanced Micro Devices stated that more customers are testing these chips than any previous EPYC launch. On June 16, 2026, the company signed an agreement with Rackspace Technology to supply 30 megawatts of AI computing power. The rollout of this agreement is scheduled to continue in phases through 2028. Stock trades near 70 times projected earnings.