Key Highlights
- Advanced Micro Devices has posted gains for 11 sessions in a row, marking its longest winning streak in nearly two decades
- Shares have climbed 32% during the current run and 192% over the trailing 12-month period
- Bernstein SocGen Group lifted its AMD price target to $265 from $235 while maintaining a Market Perform rating
- The firm’s 2027 revenue projection now stands at $76.7 billion, significantly higher than the consensus estimate of $67.5 billion, with the Meta AI partnership playing a major role
- Taiwan Semiconductor delivered strong quarterly profit growth on the same day
Advanced Micro Devices has assembled one of its most impressive market performances in nearly two decades. Through Wednesday’s closing bell, the semiconductor company had delivered a 32% advance across 11 consecutive sessions — representing its longest streak of closing gains since 2005, based on Dow Jones Market Data.
Advanced Micro Devices, Inc., AMD
Premarket activity Thursday showed the stock adding another 0.3%, positioning it for a potential 12th straight day of upward movement.
The chipmaker’s shares have surged 192% over the past year. For the current calendar year, the stock has advanced 21%. The latest rally has benefited from broader market strength, including positive sentiment surrounding the Iran ceasefire developments.
Thursday brought additional sector optimism when Taiwan Semiconductor — holding the position as the world’s largest contract chip manufacturer — delivered results showing substantial quarterly profit expansion.
Performance across the semiconductor industry showed mixed patterns before Thursday’s opening bell. Nvidia shares declined, Intel moved higher, and Marvell held steady.
Bernstein Boosts Price Target on Meta Partnership
Bernstein SocGen Group moved its AMD valuation target to $265 from its previous $235 mark while retaining a Market Perform rating. The stock traded around $258 at that moment, approaching its 52-week peak of $267.08.
The investment bank revised its financial model to incorporate enhanced server demand projections alongside more conservative PC market assumptions. The firm anticipates EPYC CPU sales will expand approximately 50% on a year-over-year basis through 2026.
The AMD partnership with Meta represents a crucial element of the updated forecast, with Bernstein suggesting the market has yet to fully incorporate this development into current valuations.
Bernstein projects first-quarter 2026 revenue at $9.9 billion with earnings per share of $1.27. The full-year 2026 outlook calls for $45.8 billion in revenue and $6.48 EPS — trailing Street expectations of $47 billion and $6.74.
2027 Projections Show Substantial Growth
Bernstein’s most significant forecast adjustment appears in its 2027 estimates. The firm currently models $76.7 billion in revenue paired with $13.23 EPS for that year — representing a major increase from prior projections of $56.7 billion and $9.25, and substantially exceeding the $67.5 billion consensus figure.
The Meta AI agreement and elevated server assumptions drive this projected acceleration.
Bernstein identified one potential headwind: current Street estimates for PC sales in 2026 appear elevated, which may create pressure on near-term financial results.
Additional analyst commentary has remained constructive. Erste Group elevated AMD to Buy from Hold, highlighting data center demand strength and margin improvement trends. Aletheia Capital maintained its Buy rating, emphasizing AMD’s expanding presence in AI computing infrastructure.
AMD’s next earnings report is scheduled for May 5. Management previously provided guidance calling for 32% year-over-year revenue expansion in Q1 2026, powered by data center CPU and GPU sales momentum.
Based on current trading levels, InvestingPro’s Fair Value analysis suggests the stock trades above fundamental value, though AMD maintains an attractive PEG ratio of 0.59.
