BlockBeats News, July 17th, Bank of America analyst Vivek Arya raised AMD's price target, citing strong AI server demand, EPYC processor market share gains, and improved supply visibility, which may drive the company to deliver another quarter of better-than-expected performance.
BofA raised AMD's price target from $550 to $620 and maintained a Buy rating. The firm believes that AMD is not just a CPU turnaround story but is evolving into a more complete AI infrastructure supplier. Its EPYC server CPUs, Instinct AI accelerators, and the upcoming MI455X Helios rack-scale solution could be the next growth drivers.
Arya expects that AMD's third-quarter guidance may include the initial shipment of MI455X Helios and believes that if demand and supply execution go smoothly, the company's AI revenue could reach $6 to $7 billion by the end of the fourth quarter. BofA also believes that agentic AI workloads will increase data center CPU demand, further expanding AMD's server CPU market opportunity.
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