The Investor
06 Oct 2026, 14:56
AMD Gains as Citi Lifts Price Target to $800, Mizuho Raises Target to $705
Advanced Micro Devices (NASDAQ: AMD) shares rose about 2.7% on Tuesday after analysts issued bullish updates tied to the company’s expanding role in AI infrastructure and server CPUs.
Citi analyst Atif Malik reiterated a Buy rating on AMD and raised his price target to $800 from $575. Malik said Meta’s newly launched Muse AI agent could significantly increase compute demand and strengthen AMD’s position in the server CPU market.
Citi now estimates the CPU total addressable market could grow from $29 billion in 2025 to $300 billion by 2030, implying a roughly 60% compound annual growth rate.
Malik expects AMD to be the primary beneficiary of what he described as a “CPU renaissance,” with Meta viewed as one of AMD’s largest server customers. He also argued that agentic AI could require orders of magnitude more computing power than traditional chatbot workloads (yahoofinance).
Mizuho also became more bullish on AMD, with analyst Vijay Rakesh raising the firm’s price target to $705 from $580 while maintaining an Outperform rating.
The analyst optimism follows a strong run of fundamental catalysts for AMD. The company recently reported record second-quarter revenue of $11.5 billion, up 50% year over year, while Data Center revenue more than doubled to $6.7 billion on strong demand for EPYC server processors and Instinct AI accelerators (yahoofinance).
AMD is also preparing its next generation of AI hardware, including the Instinct MI450 GPUs, 6th Gen EPYC Venice CPUs and Helios rack-scale AI systems.
The combination of higher analyst price targets, expectations for rapidly expanding AI-driven CPU demand and continued strength in AMD’s data center business appears to be supporting the stock’s latest move higher.
Advanced Micro Devices (NASDAQ: AMD) shares rose about 2.7% on Tuesday after analysts issued bullish updates tied to the company’s expanding role in AI infrastructure and server CPUs.
Citi analyst Atif Malik reiterated a Buy rating on AMD and raised his price target to $800 from $575. Malik said Meta’s newly launched Muse AI agent could significantly increase compute demand and strengthen AMD’s position in the server CPU market.
Citi now estimates the CPU total addressable market could grow from $29 billion in 2025 to $300 billion by 2030, implying a roughly 60% compound annual growth rate.
Malik expects AMD to be the primary beneficiary of what he described as a “CPU renaissance,” with Meta viewed as one of AMD’s largest server customers. He also argued that agentic AI could require orders of magnitude more computing power than traditional chatbot workloads (yahoofinance).
Mizuho also became more bullish on AMD, with analyst Vijay Rakesh raising the firm’s price target to $705 from $580 while maintaining an Outperform rating.
The analyst optimism follows a strong run of fundamental catalysts for AMD. The company recently reported record second-quarter revenue of $11.5 billion, up 50% year over year, while Data Center revenue more than doubled to $6.7 billion on strong demand for EPYC server processors and Instinct AI accelerators (yahoofinance).
AMD is also preparing its next generation of AI hardware, including the Instinct MI450 GPUs, 6th Gen EPYC Venice CPUs and Helios rack-scale AI systems.
The combination of higher analyst price targets, expectations for rapidly expanding AI-driven CPU demand and continued strength in AMD’s data center business appears to be supporting the stock’s latest move higher.
