AMD Eyes New Highs As Meta, OpenAI Fuel Massive 2026 Chip Surge

Wolfe Research remains bullish on Advanced Micro Devices (AMD.OQ), saying strong data-center demand — driven by large-scale deployments from Meta and OpenAI — should propel AMD toward new highs despite softer PC sales. The firm kept 2026 estimates largely unchanged and maintained an Outperform rating. Technically, AMD is trading near its 52-week high and well above key moving averages, though an RSI near 79 signals overbought conditions and potential for choppy trading. Upcoming May 5, 2026 earnings (EPS est. $1.18; revenue est. $9.86B) and AMD’s heavy weightings in several funds mean any fund flows could amplify moves in the stock.