Key Takeaways
- Advanced Micro Devices shares advanced over 3% during Monday’s premarket session, trading at $534.10
- Goldman Sachs increased its price forecast to $640 from $450 while keeping its Buy recommendation
- Cantor Fitzgerald established Wall Street’s most bullish target at $700, maintaining its Overweight stance
- AMD Ventures participated in a $79 million funding round for Japanese self-driving company Turing
- Analysts anticipate AMD will report earnings of $1.55 per share on August 4, a sharp increase from $0.48 last year
Shares of Advanced Micro Devices surged more than 3% during premarket hours on Monday, reaching $534.10, as renewed investor confidence boosted artificial intelligence and chip manufacturing stocks across the board.
Advanced Micro Devices, Inc., AMD
Futures for the Nasdaq climbed 1.23% while S&P 500 futures posted a 0.47% gain, signaling positive momentum for the broader equity markets as trading began.
This upward movement coincided with several optimistic analyst revisions. Goldman Sachs elevated its AMD price objective to $640 from $450 while reaffirming its Buy stance. Meanwhile, Cantor Fitzgerald pushed even higher, raising its forecast from $500 to $700âestablishing the most aggressive target among Wall Street firmsâwhile maintaining its Overweight recommendation.
Cantor’s analyst C.J. Muse pointed to AMD’s robust expansion in the computing sector as justification for preferring the chipmaker over competitors such as Nvidia and Broadcom.
UBS previously increased its target to $670 on June 24, while Wells Fargo adjusted its projection to $615 on June 30. The consensus among analysts remains Buy, with an average target price of $499.44.
Data Center Expansion Fuels Optimistic Outlook
AMD’s data center segment experienced a remarkable 57% year-over-year increase, generating $5.8 billion in revenue and accounting for more than half of the company’s total sales. This impressive performance stems from the accelerated deployment of its EPYC Venice server processors and a strategic collaboration with Rackspace Technology to provide 30 megawatts of AI computing capacity through 2028.
From a technical perspective, AMD is positioned above all major moving averages. The stock trades approximately 4% above its 20-day simple moving average of $516.84 and roughly 16.8% beyond its 50-day simple moving average of $460.38. The bullish golden cross pattern established in July 2025 remains in effect. Near-term resistance appears around $546.50, while critical support levels hover near $437.
The Relative Strength Index stands at 52.47âindicating neutral conditionsâwhich suggests future movements will depend more on price dynamics than momentum extremes.
AMD Invests in Self-Driving Technology Firm Turing
AMD Ventures has joined as a new backer of Turing Inc., a Japanese autonomous driving technology company that recently secured a $79 million Series A extension round. This financing values Turing at approximately $600 million, according to Bloomberg reports.
Currently, about 10% of Turing’s artificial intelligence training operations utilize AMD graphics processing units, reducing reliance on Nvidia components and decreasing expenses before the planned 2028 commercial rollout. Turing is building autonomous driving solutions for both consumer automobiles and robotaxi services, having extended testing operations from Tokyo’s peripheral regions into denser city environments.
AMD’s upcoming quarterly results are scheduled for release on August 4. Street analysts project earnings of $1.55 per share, significantly above the $0.48 reported in the comparable period last year, with revenue expected to reach $11.28 billion compared to $7.68 billion in the prior-year quarter.
AMD currently trades at approximately 172.6 times earnings. According to GuruFocus analysis, the company’s intrinsic value stands at $239.86, indicating the stock commands a 115% premium to that valuation. Company insiders have divested $164.5 million in shares during the past three months.
AMD demonstrates a momentum score of 98.6 and a growth score of 96.77, though its value score registers only 3.43.
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