Advanced Micro Devices price target raised to $375 as shares slide
After AI growth concerns triggered a chip sell-off, Advanced Micro Devices shares fell sharply on April 28. D.A. Davidson upgraded Advanced Micro Devices to Buy and raised its 2026 price target to $375 (from $220), boosting revenue estimates by $2 billion and gross profit by $1.5 billion.
1. Market Sell-Off Hits AMD Shares
On April 28, investor fears over AI growth prospects triggered a sector-wide sell-off that saw chip infrastructure stocks including Advanced Micro Devices decline sharply. The pullback followed reports that a major AI developer missed internal targets for weekly users and revenue, raising questions about future hyperscaler spending on data centers.
2. D.A. Davidson Raises Price Target to $375
In response to stronger-than-expected CPU demand, D.A. Davidson upgraded Advanced Micro Devices from Neutral to Buy and lifted its 2026 price target from $220 to $375. The firm also increased its 2026 revenue projection by $2 billion and gross profit forecast by $1.5 billion, citing agentic AI workloads shifting compute needs toward CPUs.