Evercore ISI raises AMD’s price target amid expectations of a shift toward AI inference workloads by 2026.
Evercore ISI increased its price target for Advanced Micro Devices (NASDAQ:AMD) to $579 from $358, maintaining an Outperform rating. The adjustment follows Q1 AI channel checks indicating a transition from AI training to inference-led markets by late 2026, emphasizing cost-per-token and ROI metrics.
The firm noted growing hyperscaler interest in internally developed ASICs and alternative accelerators. Separately, Citi raised its AMD price target to $460, citing a revised CPU market model projecting 35% annual growth to $132 billion by 2030, driven by agentic CPU demand.
AMD, a semiconductor leader in high-performance computing and AI, operates segments including Data Center, Client, Gaming, and Embedded.