Advanced Micro Devices stock (NASDAQ: AMD) is among the top-performing assets in the broader US markets. The equity has doubled investors’ money in 2026 after rising 110% year-to-date. It entered January trading at $223 and reached $469 on Tuesday. An investment of $1,000 made early this year has turned into $2,100 in less than eight months. The price rise came on the heels of the AI boom, as GPUs remain in heavy demand across the globe.

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AMD Stock Price Target: See Bank of America’s Latest Target

Vivek Arya, the Managing Director and Senior Analyst at Bank of America Securities, has given a bullish price target for AMD stock. The leading GPU maker is outpacing competitors in GPU production and fulfilling contracts to support data centers. AMD is also gaining an edge over its rival Nvidia, as the long-term prospects are stacked in its favor through the agentic AI interface. This makes the GPU and CPU manufacturer gain an edge over the brewing competition.

According to the latest price prediction from the Bank of America Securities analyst, AMD stock could reach a new target of $620. That’s a profit of nearly $150 per share if traders take an entry position today at $470. It also marks an uptick and return on investment (ROI) of approximately 32% from its current price. Therefore, an investment of $1,000 could turn into $1,320 if the price prediction turns out to be accurate. That’s double-digit gains, and not every asset is capable of generating this much return for traders.

The AI industry is seeing an influx of investments from both retail and institutional funds. It is touted to be the next-gen technology that can usher the world into a new and promising era. AMD stock stands in line to benefit from the development, as it supplies the required hardware to run the industry. An investment now could deliver robust gains in the long-term horizon covering the next five to 10 years.