Wells Fargo and Goldman Sachs Cut AMD Price Targets from $700

Major Wall Street brokerages reduced their price targets on Advanced Micro Devices on Nov. 4, 2026. Wells Fargo lowered its price target on AMD to $650 from $700 while analyst Aaron Rakers maintained the firm's rating on the stock. Earlier that morning, Goldman Sachs analyst James Schneider trimmed the semiconductor manufacturer's price target to $675 from $700 while maintaining coverage. Both firms cited updated valuation models and expectations amid shifting dynamics across server, data center, and artificial intelligence hardware markets.