AMD Stock Is Up 155% This Year, But Stifel Sees A Further Upside Of 16% – What’s Driving The Optimism?

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According to TheFly, Stifel analysts raised their price target for AMD to $635 from $450 while maintaining a ‘Buy’ rating.

  • Stifel’s positive outlook on AMD is underpinned by continued strength in AI infrastructure spending.
  • The firm argued that the industry’s biggest challenge remains supply constraints rather than a lack of customer demand.
  • While AI-related stocks have experienced bouts of volatility in recent weeks, Stifel views the pullback as a “valuation reset” rather than evidence of weakening fundamentals.

Shares of Advanced Micro Devices Inc. (AMD) have gained more than 155% year-to-date, but Wall Street believes the rally still has more juice left.

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According to TheFly, analysts at Stifel raised their price target for AMD to $635 from $450 while maintaining a ‘Buy’ rating. The new price target for AMD implies a potential upside of about 16% from Thursday’s closing price.

AMD shares are up nearly 6% this week so far, with the stock on track to snap its two-week losing streak.

Why Stifel Is Bullish On AMD

Stifel’s positive outlook on AMD is underpinned by continued strength in AI infrastructure spending, with the firm arguing that the industry’s biggest challenge remains supply constraints rather than a lack of customer demand.

The firm noted that AI infrastructure companies continue to report robust order backlogs and long-term capacity commitments, which it believes provide visibility into future growth.

While AI-related stocks have experienced bouts of volatility in recent weeks, Stifel views the pullback as a “valuation reset” rather than evidence of weakening fundamentals.

Goldman Sachs echoed similar sentiments, hiking its price target for AMD to $640 from $450 while keeping a ‘Buy’ rating earlier this week.

Wells Fargo analysts also expressed a bullish outlook, raising their price target to $615 from $505, with an ‘Overweight’ rating. The firm cited the strength in demand for AMD’s EPYC server Central Processing Units (CPUs) as well as pricing upside as reasons for its optimism.

AMD Tops $900B Market Cap Again

AMD topped $900 billion in market capitalization yet again on Thursday, before paring some of the gains. This is the third instance of AMD’s market cap crossing $900 billion in less than a month.

AMD shares have also ended in the green in 17 of the 27 weeks in 2026 so far, with the longest streak a nine-week stretch of gains between March and May this year.

AMD’s market cap surpassed $900 billion for the first time in June after the company began selling the Ryzen AI Halo developer platform to compete with Nvidia Corp.’s (NVDA) DGX Spark.

What Retail Traders Think About AMD

Retail sentiment on Stocktwits around AMD trended in ‘bearish’ territory at the time of writing.

AMD stock is up 155% year-to-date and 295% over the past 12 months. The S&P 500 ETF (SPY) is up 20% over the past 12 months, while the Invesco QQQ Trust ETF (QQQ) is up 30%.

The iShares Core S&P 500 ETF (IVV) is up 20% during this period.

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