Is an AMD Stock Split Coming Now That the Shares Have Topped $600?

Advanced Micro Devices (AMD) recently crossed historic milestones as its share price topped $600, closing at a record $615.52 and propelling the company's market capitalization above $1 trillion for the first time. The stock has surged roughly 187% year-to-date, fueled by massive market demand for artificial intelligence compute and data center infrastructure. In its latest reported second quarter, AMD posted a 50% year-over-year revenue increase to $11.5 billion, led by a 107% jump in data center revenue to $6.7 billion driven by EPYC server processors and Instinct AI accelerators. With the stock trading above $600, speculation has surfaced regarding a potential stock split, which would be the company's first since August 2000. However, management has given no indication of an impending split. Market analysts highlight that a split would not alter underlying fundamentals or valuation, as the stock currently trades around 40 times projected 2027 earnings. Despite strong forward guidance of approximately $13 billion in third-quarter revenue, elevated multiples suggest significant future growth is already priced in.