Advanced Micro Devices Rallies 6.1% After TSMC Raises 2026 Revenue Guidance Above 30%
AMD shares jumped 7.7% on April 16 to close at $278.26 with volume 65% above average, fueled by AI demand and TSMC’s 32% Q2 revenue guidance lift. The stock then rallied 6.1% after TSMC raised 2026 revenue guidance above 30% and Bernstein set a $265 target forecasting 50% EPYC growth.
1. Stock Rally on AI Demand
AMD stock jumped 7.7% on April 16 to close at $278.26, with daily volume 65% above its 30-day average, extending its longest winning streak since 2005 and reaching new record highs on accelerating AI-driven semiconductor demand.
2. TSMC’s Revenue Guidance Upgrade
Taiwan Semiconductor’s Q1 earnings reflected 41% year-over-year sales growth and spurred a 32% increase in Q2 revenue guidance, while full-year outlook topped a 30% increase as AI infrastructure orders climbed.
3. Bernstein’s Price Target and EPYC Outlook
Bernstein lifted its price target on AMD from $235 to $265, projecting 50% growth for EPYC server processors in 2026, supported by expanding AI adoption and a strategic cloud contract with Meta.