Anything Intel Can Do, Advanced Micro Devices Might Be Able to Do Better

Intel’s blockbuster Q1 earnings and the resulting surge in chip-sector sentiment lifted Advanced Micro Devices, which jumped about 15% to $350.39. Analysts upgraded AMD and raised targets (D.A. Davidson to $375 from $220; Jefferies kept a Buy with a $300 target), arguing that a shift to inference/agentic AI is boosting demand for CPUs and could allow AMD to raise prices and margins. Morgan Stanley cautioned Intel’s beat largely reflected supply constraints, not share wins over AMD. The PHLX Semiconductor Index (SOX) rose ~4.5%, extending an 18-day streak and underscoring broad bullishness across semiconductors, supporting a constructive near-term outlook for AMD shares.