Advanced Micro Devices has already been one of the market’s clearest beneficiaries of the first wave of artificial intelligence spending, yet a growing group of Wall Street voices now argues the real upside is still ahead. I see the latest bullish call as a sign that the next leg of AI infrastructure buildout could reward investors who are willing to step in before the crowd fully prices in that growth.
The core of the new thesis is simple: AI data centers are moving from pilot projects to scaled deployments, and AMD is finally positioned with competitive hardware, a fuller product stack, and improving supply to capture that demand. That is why one prominent analyst now argues it is time to buy the stock ahead of the next surge in AI orders rather than waiting for perfect clarity.
Why one longtime skeptic just turned bullish on AMD
The most striking development for me is not that another optimistic forecast has appeared, but that a previously cautious voice has flipped to a clear buy stance. Jan, who had been hesitant on the name, now argues that Advanced Micro Devices is set up for a roughly 30 percent gain as AI infrastructure spending accelerates, a shift that reflects growing confidence in the company’s ability to translate its technology roadmap into revenue. In that view, the combination of strong demand for server products and a more competitive accelerator lineup justifies paying up for growth before the next wave of orders hits.
That pivot is grounded in concrete trends rather than sentiment. Jan highlights that the company is almost sold out of server central processing units, a sign that cloud and enterprise customers are locking in capacity for AI and high performance computing workloads, and that this tightness is likely to support pricing power as new accelerator products ramp. The same analysis points to a meaningful opportunity in data center graphics processing units, where AMD’s MI355 and MI455 accelerator shipments are expected to scale into 2026, a dynamic that underpins the call for the stock to climb roughly 30 percent from recent levels according to Analyst Says Advanced.
AI chips, server demand and the John Vinh upgrade
Another key catalyst for the stock has been the shift in tone from KeyBanc analyst John Vinh, who upgraded AMD to overweight after reassessing the scale of its AI opportunity. I read that move as a signal that the Street is starting to see AMD not just as a cyclical PC and console supplier, but as a structural winner in data center accelerators and server CPUs. Vinh’s work suggests that AI chips could account for roughly one third of the company’s revenue mix as deployments ramp, which would fundamentally change how investors value the business.
That revenue mix shift matters because AI accelerators typically carry higher margins and longer visibility than traditional client products. When Vinh raised his rating, he effectively endorsed the idea that AMD’s data center portfolio can support a more premium multiple, particularly as hyperscale customers diversify away from single supplier dependence. The upgrade, which explicitly cited AI chips making up one third of AMD’s revenue, helped spark a sharp move higher in the shares and reinforced the bullish narrative around the company’s accelerator roadmap, as detailed in the Key Points on John Vinh’s call.
What the new “buy now” call says about demand and supply
When I look at the latest bullish note that argues investors should buy AMD’s stock now, the most important takeaway is how tight the company’s supply picture has become. The report, Provided by Dow Jones Jan and written By Britney Nguyen, describes a chip maker that is almost sold out of server CPUs, a condition that suggests customers are booking capacity well ahead of delivery to secure their AI and cloud roadmaps. That kind of visibility is rare in semiconductors and usually precedes a period of outsized revenue growth as backlog converts to shipments.
The same analysis underscores that this is not just a story about one product line, but about a broader data center franchise that is gaining share. With server CPUs effectively spoken for and accelerators ramping, the analyst argues that the risk reward has shifted in favor of buyers, particularly given how much of the AI infrastructure budget is still to be spent. The note explicitly states that investors should buy AMD’s stock now and cites the figure 48 in the context of the company’s positioning, reinforcing the sense that the upside case is grounded in specific metrics rather than vague optimism, as laid out in the piece Provided by Dow.
How Wall Street’s targets frame the upside
To gauge how far this optimism could carry the stock, I look closely at the broader set of price targets and ratings around Advanced Micro Devices. Aggregated data on AMD Analyst Ratings shows that Bulls expect Advanced Micro Devices to deliver a compound annual growth rate in its top line as it gains market share and expands revenues in key segments like data center and AI. That bullish camp sees the company’s execution in server CPUs and accelerators as the main driver of sustained growth, and their targets reflect confidence that AMD can keep taking share from incumbents in both compute and graphics.
Forecast compilations for Advanced Micro Devices Stock Forecast provide a more granular view of where analysts think the shares can go. The Stock Price Forecast table lists a Target range with Low, Average and Med estimates, and notes that the highest is $345, a level that would imply substantial upside from recent trading if the AI thesis plays out. I interpret that spread as a sign that while there is still debate about how quickly AI revenue will scale, the skew of expectations is clearly to the upside, with the Average and Med targets clustering well above current prices according to the Stock Price Forecast and the bullish Analyst Ratings on AMD.
What I watch before buying ahead of the next AI surge
Even with a compelling growth story, I always remind myself that semiconductor stocks can be volatile and that headline targets are only part of the picture. Before acting on any single analyst’s call, I cross check the company’s fundamentals, valuation multiples and balance sheet using neutral tools such as Google Finance, and I compare those metrics with the implied growth in Wall Street models. For AMD, the key questions are whether the company can sustain its server CPU momentum, execute on MI355 and MI455 accelerator shipments at scale, and maintain pricing power as competition intensifies.
At the same time, I weigh the new bullish arguments from Jan and John Vinh against the broader consensus to see whether the stock is still in the early stages of an AI repricing or already reflecting much of the good news. The fact that Jan has shifted from caution to a clear buy stance, that John Vinh now expects AI chips to make up one third of AMD’s revenue, and that Bulls in the analyst community project strong compound growth in market share and revenues all point in the same direction. Taken together with the company being almost sold out of server CPUs and the upper end of price targets reaching $345, those signals explain why I now see a credible case for buying AMD stock before the next AI spending wave fully shows up in reported numbers, as highlighted in the detailed analysis from Why It and the follow up from Time to Buy.
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