AMD Shares Jump 7.7% to $278 on TSMC Guidance; PT Raised to $265
Advanced Micro Devices shares surged 7.7% to close at $278.26 on April 16, with trading volume 65% above average following Taiwan Semiconductor Manufacturing’s 41% Q1 sales growth and 32% Q2 revenue guidance boost. Bernstein lifted AMD’s price target to $265 from $235 after TSMC raised its 2026 revenue outlook above 30%, while projecting AMD EPYC server CPU sales to climb 50% next year, valuing AMD at 39x forward earnings.
1. Taiwan Semiconductor Manufacturing Growth
Taiwan Semiconductor Manufacturing posted Q1 sales up 41% and guided Q2 revenue to rise 32%, underscoring strong AI infrastructure demand that lifted AMD shares by 7.7% to $278.26 on high volume.
2. Bernstein Raises Price Target
Bernstein increased AMD’s price target to $265 from $235, based on projections that EPYC server CPU sales will grow 50% in 2026 driven by AI adoption and the recent Meta cloud services deal.
3. Valuation and Trading Momentum
After tripling over the past year, AMD trades at 39x forward earnings, and a 65% above-average trading volume on April 16 extended its longest winning streak since 2005.