Wells Fargo Reiterates Buy Rating on AMD, Sets $615 Price Target
Wells Fargo maintains its optimistic outlook on AMD, targeting $615, a 10.93% upside from the current price.
Key Points
- Wells Fargo reiterated its buy rating on AMD with a price target of $615 as of June 30, 2026.
- Wells Fargo's $615 price target implies 10.93% upside from Advanced Micro Devices, Inc.'s ($AMD) current $554.42 share price.
- AMD shares traded around $564.89 on Tuesday, with a market cap of approximately $850.5 billion.
- Several analysts, including Cantor Fitzgerald and UBS, also maintain a buy rating on AMD, with targets up to $700.
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Wells Fargo has reiterated its buy rating on Advanced Micro Devices, Inc. (NasdaqGS: AMD), setting a price target of $615. This announcement came on June 30, 2026, as part of analyst Aaron Rakers' coverage of the semiconductor company.
Wells Fargo vs. the S&P 500
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Analysts Set New Price Targets
On June 30, 2026, Wells Fargo maintained its buy rating on AMD, setting a target price of $615. This follows a series of positive ratings from other analysts. On June 29, Cantor Fitzgerald also maintained a buy rating with a target of $700. UBS, on June 24, kept its buy rating and set a target of $670. Earlier in the month, Citigroup upgraded its rating to buy with a target of $575 on June 12.
Other Institutional Activity in Advanced Micro Devices
Several major funds have adjusted their positions in AMD. BlackRock, Inc. reduced its holdings by 1,954,524 shares, ending with 145,574,284 shares valued at approximately $29.6 billion. Vanguard Capital Management LLC opened a new position with 105,940,266 shares worth about $21.5 billion. State Street Corp trimmed its stake slightly by 148,056 shares to hold 74,771,220 shares valued at $15.2 billion. Geode Capital Management, LLC added 2,206,241 shares, bringing its total to 39,791,086 shares, worth roughly $8.1 billion.
Advanced Micro Devices, Inc. Stock Up 19.1%
Shares of AMD traded near $564.89 on Tuesday. The company has a market cap of approximately $850.5 billion and a P/E ratio of 172.1, with a forward P/E of 39.6. AMD's stock has shown significant volatility, with a 52-week low of $133.50 and a high of $562.99. Its 50-day moving average stands at $439.12, while the 200-day average is $270.47. The company's current ratio is 2.73, and its quick ratio is 1.75, indicating strong liquidity.
$AMD price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
AMD reported revenue of $37.45 billion, reflecting a growth of 37.8%. The company's net margin is 13.4%, with a return on equity of 8.1%. Earnings per share (EPS) came in at $3.03. The next earnings report is scheduled for August 4, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
21 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 4.8%. Revenue beat estimates by 2.6%.
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Profit surprise
EBITDA missed by 4 percent. Operating income missed by 32 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
3 upgrades, 2 downgrades, 21 target raises.
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Earnings quality
Gross margin up 2.6 points. Operating margin up 3.6 points. Positive free cash flow.
Earnings Call Summary
AMD reported outstanding first quarter results with $10.3 billion in revenue, up 38 percent year over year. Data center revenue surged 57 percent driven by strong demand for EPYC server CPUs and Instinct GPUs. Management emphasized that Agentic AI and inference workloads are driving substantially higher CPU demand than expected, requiring more compute than prior models. Free cash flow nearly tripled to $2.6 billion, and operating margin expanded to 25 percent, showing strong operational leverage as the business scales into AI infrastructure.
Guidance AMD guided next quarter revenue to about $11.2 billion, up 46 percent year over year. Management raised full year data center CPU growth forecast to over 70 percent, driven by strong Agentic AI demand. They also raised the long-term server CPU market size forecast to over $120 billion by 2030, from $60 billion announced in November.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Insider Buying and Selling at Advanced Micro Devices, Inc.
On June 15, 2026, several insider transactions were reported. Mark Papermaster, Chief Technology Officer & EVP, sold 6,000 shares at an average price of $536.33 under a planned sale. Philip Guido, EVP & Chief Commercial Officer, executed multiple transactions on the same day, selling 7,495 shares and buying 7,495 shares, with one sale at an average price of $547.26.
About Advanced Micro Devices
Advanced Micro Devices, Inc. is a leading technology company based in Santa Clara, California. Specializing in semiconductor products, AMD provides a range of solutions including microprocessors, graphics processing units, and embedded processors. The company serves a diverse clientele, including original equipment manufacturers and cloud service providers. Dr. Lisa T. Su is the CEO, and the company employs approximately 31,000 people.
Bottom Line
Wells Fargo's reiterated buy rating and $615 price target reflect continued confidence in AMD's growth prospects. Investors track these ratings closely, as they offer insights into potential stock performance. However, it's important to remember that analyst ratings are forward-looking and subject to change based on market conditions.
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