UBS Raises AMD Price Target to $670, Lifts 2026–28 Server Revenue Estimates
AMD•UBS boosted AMD price target to $670 from $455, lifting server CPU revenue estimates for 2026–28 to $16 billion, $23 billion and $29 billion, and 2030 to $50 billion based on a 35× multiple. Chaikin Money Flow shows AMD at +0.169, signaling institutional accumulation versus Broadcom’s distribution and highlighting investor preference for AMD’s memory and GPU exposure.
1. UBS Price Target Increase
UBS raised its 2027 price target for Advanced Micro Devices to $670 from $455, maintaining a Buy rating in response to improving server CPU demand trends. This 47 percent increase reflects growing confidence in the company’s ability to capture market share in data center and cloud infrastructure markets.
2. Upgraded Server CPU Revenue Forecasts
The bank lifted AMD’s server CPU revenue projections to $16 billion in 2026, $23 billion in 2027 and $29 billion in 2028, up from prior levels, while extending the 35× earnings multiple to forecast $50 billion by 2030. These upward revisions align with expectations for broader adoption of standalone CPUs across global AI workloads.
3. Institutional Accumulation Signals
Chaikin Money Flow for AMD stands at +0.169, indicating net inflows from large investors, while Broadcom registers a slight distribution at –0.006. This divergence highlights a rotation toward AMD and Micron amid ongoing memory and GPU capital spending.
4. Valuation and Growth Risks
AMD shares have climbed approximately 275 percent over the past year to around $520, trading above estimated fair value and raising concerns about valuation compression. Execution risks loom if server market growth slows or competition intensifies in AI infrastructure segments.
