Bank of America’s Vivek Arya recently raised AMD’s stock price target from $550 to $620. Bank of America is not alone in its bullish outlook for the stock. An increasing number of Wall Street analysts have raised their stock price target for the chip manufacturer. UBS raised their projection from $670 to $700, while Goldman Sachs increased their target from $450 to $640. Let’s discuss why Wall Street is so bullish on AMD, and if you should consider buying the stock right now.

Why Is Wall Street Raising Its Stock Price Target For AMD?

Photo courtesy of Advanced Micro Devices

AMD, and the wider semiconductor and AI sector, has seen rapid growth over the last few years. AI demand has led to a massive surge in stock prices of chip manufacturers. Nvidia (NVDA) is the current market leader, but AMD has also carved out a position for itself.

The recent increase in stock price target comes ahead of AMD’s upcoming earnings report on August 4, 2026. Many anticipate the company to reveal stellar earnings, a pattern seen in the wider sector.

Also Read: AMD Stock’s Biggest Growth Isn’t Gaming, Its Enterprise AI

Despite the bullish outlook from Wall Street, AMD’s stock price took a hit, closing 3.46% (18.99 points) lower on Wednesday, July 15, 2026. The stock has further dipped by 1.25% (6.61 points) in the pre-market hours. The correction is likely due to investor worries around competition from China. In fact, the AI-stock sector, in general, has taken a hit. Micron (MU) fell by more than 8% amid rising worries about DRAM competition from China.

AMD price chart
Source: Yahoo Finance

While there are concerns about overseas competition, AMD is still poised for growth in the coming years. The company’s unique position in both GPU (Graphics Processing Unit) and CPU (Central Processing Unit) markets make it a solid consideration for any portfolio. While there may be some sector-wide risks, Wall Street seems convinced about AMD’s future.

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