UBS Raises AMD Price Target to $300, Citing AI Growth Potential
UBS analyst Timothy Arcuri has elevated AMD's price target to $300 from $265, maintaining a Buy rating on the chipmaker. The upgrade reflects stronger visibility into AMD's data center business and upcoming catalysts expected to drive growth through 2026.
AMD is entering a new growth phase fueled by demand for AI accelerators and high-performance GPUs, with fundamentals improving faster than anticipated. The company's MI300 accelerator chips are gaining traction among cloud providers and enterprise customers, positioning AMD to compete more aggressively with Nvidia in the AI market.
The bullish outlook follows AMD's recent earnings beat and upward revenue guidance, with Q4 projections of $9.6 billion surpassing Wall Street estimates. The company's AI-related business and partnership with OpenAI further support the case for expanded market share in coming years.
