UBS Lifts AMD Target to $670, Forecasts $29B CPU Revenue by 2028
AMD•UBS raised AMD's price target to $670 from $455, citing its high core counts, multithreading strength and x86 software ecosystem. The bank forecasts AMD CPU revenue of $23 billion in 2027 and $29 billion in 2028 as agentic AI standalone rack deployments drive demand.
1. UBS Raises Price Target
UBS lifted AMD's price target to $670 from $455, highlighting the company's high core counts, multithreading performance and robust x86 software ecosystem as the basis for its improved valuation.
2. Standalone AI Rack Opportunity
The note emphasizes accelerating demand for agentic AI infrastructure, where standalone CPU racks could split 60% x86 and 40% Arm by 2030, positioning AMD to capture an outsized share given Intel's roadmap and supply constraints.
3. CPU Revenue Projections
UBS now projects AMD's CPU server revenue to hit $23 billion in 2027 and $29 billion in 2028, up from prior estimates, reflecting stronger-than-expected adoption of server-grade CPUs in data centers.
