Advanced Micro Devices (AMD) saw its stock rating upgraded to “Buy” by Citi and Bank of America on June 12, with the analysts lifting price targets to $575 and $560 respectively, up from $460 and $500.
Analyst Upgrades and Revised Targets
Citi raised its objective price for AMD to $575, emphasizing the chipmaker’s expanding role in the graphics processing unit market. The firm’s analysts argue that investors still focus mainly on AMD’s CPU segment, leaving the GPU upside largely ignored in current valuations. Bank of America also confirmed a “Buy” stance and increased its target to $560, reflecting confidence in AMD’s growth trajectory.
Share Price Momentum
AMD shares opened on Monday at $511.57, climbing 4.73% and approaching the 52‑week high of $546.44. This surge marks a stark contrast to the 52‑week low of $115.06 recorded earlier in the year. The price rally highlights renewed investor interest as the market reassesses AMD’s competitive positioning.
Long‑Term Market Outlook
Bank of America projected the server CPU total addressable market to exceed $170 billion by 2030, up from $125 billion, suggesting a five‑fold expansion and a 37% compound annual growth rate from 2025 onward. The bank identified agentic artificial intelligence as a key driver that will broaden demand for high‑performance CPUs. AMD’s processors, which also power many blockchain and crypto mining operations, stand to benefit from this expanding market landscape.