KEY TAKEAWAYS
- Advanced Micro Devices has climbed for 11 straight trading days, marking its longest consecutive winning streak in nearly 20 years
- Shares have surged 32% during this 11-day period and have jumped 192% over the trailing 12 months
- Bernstein SocGen Group lifted its AMD price target to $265 from $235 while maintaining its Market Perform rating
- The firm’s updated 2027 revenue projection stands at $76.7 billion, significantly exceeding the $67.5 billion Wall Street consensus, driven partly by Meta’s AI partnership
- Taiwan Semiconductor’s robust quarterly earnings added momentum to the semiconductor sector
Advanced Micro Devices has been orchestrating an impressive rally that’s capturing attention across Wall Street. Through Wednesday’s trading session, shares had climbed 32% across 11 consecutive sessions — representing the longest streak of closing gains since 2005, per data from Dow Jones Market Data.
Advanced Micro Devices, Inc., AMD
In Thursday’s premarket activity, shares edged up an additional 0.3%, positioning the stock for a potential 12th straight day in positive territory.
Looking at the broader picture, AMD has skyrocketed 192% over the past year. For 2025 alone, the stock has appreciated 21%. The recent momentum has benefited from a wider market surge, including renewed investor confidence following developments related to the Iran ceasefire agreement.
Adding fuel to the semiconductor sector’s optimism, Taiwan Semiconductor — the global leader in contract chip manufacturing — unveiled a substantial quarterly profit increase on Thursday morning.
Across the chip industry ahead of Thursday’s opening bell, sentiment was varied. Nvidia shares dipped, Intel moved higher, and Marvell held steady.
Bernstein Elevates Price Forecast, Highlights Meta Partnership
Bernstein SocGen Group increased its AMD price objective to $265 from a previous $235, though the firm maintained its Market Perform recommendation. At the time of the announcement, AMD was trading near $258, approaching its 52-week peak of $267.08.
The investment bank recalibrated its financial model to account for accelerating server market demand while tempering PC segment expectations. Bernstein now anticipates EPYC CPU revenue will expand approximately 50% year-over-year throughout 2026.
A critical component of this revised forecast centers on AMD’s strategic partnership with Meta, which analysts believe remains underappreciated by the broader investment community.
For the first quarter of 2026, Bernstein projects $9.9 billion in quarterly revenue alongside earnings of $1.27 per share. Looking at the complete fiscal year, the firm forecasts $45.8 billion in revenue with $6.48 in EPS — figures that trail Wall Street’s consensus expectations of $47 billion and $6.74 respectively.
2027 Projections Show Dramatic Upside
Where Bernstein’s analysis becomes particularly bullish is in its 2027 outlook. The firm now anticipates $76.7 billion in annual revenue paired with $13.23 in earnings per share for that year — a substantial revision upward from its earlier estimate of $56.7 billion and $9.25, and notably surpassing the Street consensus of $67.5 billion.
This significant upward revision stems primarily from the Meta AI collaboration and enhanced server market assumptions.
Bernstein did sound one note of warning: current Wall Street PC forecasts for 2026 appear overly optimistic, potentially creating headwinds for near-term financial results.
Other research firms have echoed positive sentiment. Erste Group elevated AMD to a Buy rating from Hold, emphasizing data center momentum and margin expansion. Aletheia Capital maintained its Buy recommendation, highlighting AMD’s expanding presence in artificial intelligence infrastructure.
AMD is scheduled to announce quarterly results on May 5. Management previously provided guidance calling for 32% year-over-year revenue expansion in Q1 2026, propelled by robust data center CPU and GPU shipments.
At present valuation levels, InvestingPro’s Fair Value analysis suggests the stock trades above fundamental value, though AMD maintains an attractive PEG ratio of 0.59.
