Key Takeaways
- Shares of Advanced Micro Devices advanced 1.9% in pre-market hours following William Blair’s Market Perform rating initiation, with the firm forecasting revenue growth from $52B in 2026 to surpass $104B by 2028.
- Goldman Sachs elevated its AMD price objective to $640, adding to the bullish momentum building this week.
- The semiconductor stock opened Thursday at $517.41, operating within its 52-week trading band of $137.59 to $584.73.
- First-quarter results exceeded Wall Street forecasts with earnings per share of $1.37 versus the anticipated $1.29, while revenue reached $10.25B, marking a 37.8% annual increase.
- The chipmaker has scheduled its Q2 2026 earnings release for August 4, providing traders with an upcoming event to monitor.
Shares of Advanced Micro Devices (AMD) experienced a 1.9% uptick during pre-market hours Thursday, approaching the $517.41 opening level, as new analyst commentary paired with an upgraded Goldman Sachs forecast maintained bullish interest.
Advanced Micro Devices, Inc., AMD
William Blair launched coverage on the semiconductor company with a Market Perform designation. Research analyst Sebastien Naji highlighted AMD’s strategic positioning to capitalize on the artificial intelligence infrastructure expansion, projecting revenue expansion from $52 billion in 2026 to exceed $104 billion within two years.
The research house anticipates non-GAAP earnings per share reaching approximately $20 by 2028, fueled by robust demand across GPUs, CPUs, and specialized silicon designed for AI training and inference applications.
Goldman Sachs equity analyst James Schneider separately increased his AMD price objective to $640 during the week’s earlier sessions, a revision that has provided sustained support for the stock’s upward trajectory entering Thursday’s trading.
The pre-market strength comes after Tuesday’s selloff, when AMD declined following a Reuters report revealing Chinese AI company DeepSeek’s plans to develop proprietary inference chips — news that triggered widespread concern across semiconductor equities.
The stock rebounded during Wednesday’s session, closing at $518.47 after starting the day at $504.01, with gains extending into Thursday’s pre-market activity.
First Quarter Performance Exceeds Expectations, Q2 Timing Announced
The company’s latest quarterly report provided encouraging signals for shareholders. AMD delivered Q1 earnings of $1.37 per share, surpassing analyst estimates of $1.29. Revenue totaled $10.25 billion, exceeding the $9.90 billion projection and representing a 37.8% year-over-year expansion.
Management has officially designated August 4 as the release date for Q2 2026 financial results, scheduled after market hours. This timeline offers investors a specific upcoming milestone for portfolio decisions.
Wall Street consensus projects annual EPS of $6.15 for the current fiscal year.
Institutional Ownership Expansion Persists
Resona Asset Management expanded its position by 11,724 shares during the first quarter, bringing its cumulative holdings to 514,346 units valued at approximately $103.9 million. Major institutional holders including Vanguard, State Street, and Geode Capital similarly increased their allocations in the fourth quarter.
Institutional shareholders currently control 71.34% of AMD’s total shares outstanding.
Conversely, corporate insiders have reduced exposure. Chief Executive Officer Lisa Su divested 125,000 shares on June 10 at an average price of $460.69, generating proceeds of roughly $57.6 million. Executive Vice President Forrest Norrod similarly sold 19,487 units during May. Both transactions were executed through pre-established Rule 10b5-1 trading arrangements.
Wall Street Sentiment and Industry Dynamics
Among 43 Wall Street analysts surveyed by MarketBeat, the ratings breakdown includes two Strong Buy recommendations, 28 Buy ratings, 12 Hold designations, and one Sell rating.
The consensus price objective stands at $453.92, although several recent upgrades have established significantly higher benchmarks. UBS maintains a $670 target, Wells Fargo projects $615, and Goldman’s updated forecast reaches $640.
William Blair’s analysis acknowledged that AMD’s graphics processing unit lineup has trailed Nvidia’s market-leading position, but credited AMD with accelerating its development timeline and distinguishing itself through enhanced memory architecture, competitive pricing strategies, and commitment to open-source frameworks.
Shares experienced earlier weekly pressure as Nvidia announced additional customer wins for its Vera AI processor family.
Broader equity markets presented mixed signals Thursday, with the Nasdaq Composite advancing 0.2%, while the S&P 500 declined 0.3% and the Dow Jones Industrial Average retreated 1.1%.
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