Wells Fargo Raises AMD Target to $615, Citing New 2nm Venice CPUs and AI Chip Plans
AMD has more than doubled off its 52-week low of $133.5.
Summary
Wells Fargo raised its price target for AMD to $615, projecting significant server CPU revenue growth to $25 billion by 2028 and higher EPS, driven by stronger AI-driven server CPU demand. This outlook is supported by AMD's plans for new 2nm 'Venice' server CPUs and Versal Premium Gen2 chips for robotics, aerospace, defense, and industrial AI. This follows a series of positive news for AMD, including strong Q1 results, robust Q2 CPU revenue projections, and sustained customer demand visibility through 2027, all fueled by strong AI demand. The introduction of 2nm technology and specialized AI chips reinforces AMD's competitive position in the high-growth data center and AI markets, providing concrete product details that support the analyst's bullish outlook and future revenue estimates.
At the time of this announcement, AMD was trading at $579.48 on NASDAQ in the Technology sector, with a market capitalization of approximately $947.2B. The 52-week trading range was $133.50 to $584.73. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.