Key Highlights
- Advanced Micro Devices has notched 11 consecutive sessions of gains, marking its longest winning streak since 2005
- Shares have climbed 32% during this remarkable 11-day period and surged 192% year-over-year
- Bernstein SocGen Group lifted its price target to $265 from $235 while maintaining a Market Perform rating
- The firm’s 2027 revenue projection now stands at $76.7 billion, significantly above the Street’s $67.5 billion estimate, factored in part by the Meta AI partnership
- The positive momentum coincided with Taiwan Semiconductor’s strong quarterly earnings report
Advanced Micro Devices is experiencing an extraordinary winning streak that hasn’t been witnessed in nearly two decades. Through Wednesday’s trading session, the semiconductor giant’s shares had climbed 32% across 11 consecutive days of gains — representing the company’s longest uninterrupted winning streak since 2005, per Dow Jones Market Data.
Advanced Micro Devices, Inc., AMD
In premarket activity Thursday, the stock added another 0.3%, positioning itself for what could be a 12th straight session in positive territory.
Looking at the broader picture, AMD shares have surged 192% over the trailing 12-month period. In 2025 alone, the stock has advanced 21%. The current momentum has benefited from a wider market upswing, including sentiment improvement related to the Iran ceasefire developments.
Thursday also brought positive news from Taiwan Semiconductor — the global leader in contract chip manufacturing — which posted a substantial increase in quarterly earnings, further bolstering sentiment across the semiconductor industry.
The broader chip sector showed mixed performance heading into Thursday’s trading. Nvidia shares declined, Intel moved higher, and Marvell traded relatively flat.
Bernstein Lifts Price Target, Highlights Meta Partnership
Bernstein SocGen Group increased its price objective for AMD shares to $265 from a previous $235, though the firm maintained its Market Perform rating. At the time of the revision, shares were changing hands near $258, approaching the 52-week peak of $267.08.
The investment bank revised its financial model to incorporate enhanced server demand projections while tempering PC market expectations. Bernstein now anticipates EPYC CPU revenue will expand approximately 50% year-over-year in 2026.
A critical component of the upgraded forecast centers on AMD’s partnership with Meta, which Bernstein believes remains underappreciated by the broader investment community.
For the first quarter of 2026, Bernstein projects $9.9 billion in revenue alongside $1.27 in earnings per share. For the complete year, the firm forecasts $45.8 billion in revenue and $6.48 EPS — figures that trail Wall Street’s consensus estimates of $47 billion and $6.74.
2027 Projections Show Substantial Upside
The most significant revision appears in Bernstein’s 2027 estimates. The firm now anticipates $76.7 billion in revenue and $13.23 in earnings per share for that year — a dramatic increase from its previous forecast of $56.7 billion and $9.25, and substantially above the Street consensus of $67.5 billion.
This substantial upgrade stems primarily from the Meta AI collaboration and elevated server market assumptions.
Bernstein did note one potential headwind: Wall Street’s PC market forecasts for 2026 appear overly optimistic, which could create pressure on near-term performance.
Other Wall Street firms have also expressed bullish views. Erste Group elevated AMD to Buy from Hold, citing robust data center demand and margin expansion. Aletheia Capital maintained its Buy rating, highlighting AMD’s expanding presence in AI computing infrastructure.
AMD is scheduled to announce earnings results on May 5. The company previously provided guidance calling for 32% year-over-year revenue expansion in Q1 2026, propelled by data center CPU and GPU sales.
At present trading levels, InvestingPro’s Fair Value analysis suggests the stock appears overvalued, although AMD maintains an attractive PEG ratio of 0.59.
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