JPMorgan’s Harlan Sur raises AMD’s price target by 43% citing strong AI chip demand and market share gains.
A top-ranked JPMorgan analyst increased AMD’s price target to $550 from $385, citing the company’s expanding role in the AI chip market. The adjustment follows a quarterly earnings beat but modest guidance for the September quarter.
AMD’s stock has surged over 300% in three years, driven by gains in AI accelerators and server processors. The company competes directly with Nvidia in AI chips while benefiting from demand tied to AI agents. Despite a 20% pullback from all-time highs, the analyst maintained a Neutral rating.
The note highlights AMD’s dual growth drivers: GPUs for AI training and inference, alongside CPUs powering AI-driven applications. The analyst’s bullish outlook reflects confidence in AMD’s long-term positioning in the AI ecosystem.