Stifel Raises AMD Price Target to $700 Citing AI and Server Momentum

Stifel analyst Ruben Roy raised the 12-month price target on Advanced Micro Devices to $700 from $635, reiterating a Buy rating and implying a 10.94% upside from its $630.97 share price. The upgrade follows a 209% share surge over the past year, lifting market capitalization to around $1 trillion. The brokerage expects a beat-and-raise September quarter fueled by EPYC CPU momentum and initial revenue from the MI450 accelerator line. AMD's data center segment sales recently jumped 107% year-over-year to $6.72 billion, taking over 30% of the server CPU market.