AMD Stock Gets Price Target Hike from Top Analyst
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Top Analyst Cuts Estimates but Remains Bullish on AI Ramp
Rakesh, a Top-rated analyst, slightly revised his earnings forecast for AMD. While he kept his revenue estimates steady, he lowered his earnings projections due to margin pressures. For the upcoming June quarter, he still expects revenue of $7.40 billion, but cut his EPS estimate to $0.47 from $0.68, slightly below the Street's expectation of $0.49.
Looking ahead to Fiscal 2025, he maintained his revenue forecast at $32 billion but trimmed his EPS estimate to $3.90 from $4.02. His 2026 earnings forecast also came down to $5.86 from $6.28, though it's still slightly above the Street's $5.81. For 2027, Rakesh raised his revenue projection slightly and kept EPS unchanged at $7.19, reflecting his confidence in AMD's long-term growth as its newer AI chips begin to scale.
MI355X Ramp Could Be a Catalyst in Late 2025
Rakesh is optimistic about the potential of AMD's MI355X AI accelerator, which he expects to gain momentum in the second half of 2025. While Nvidia is still the dominant player in AI chips, Rakesh noted that many large cloud companies are starting to look for other options to reduce their reliance on a single supplier. This shift could benefit AMD going forward.
That said, Rakesh also noted that software continues to be a weak spot for AMD, limiting its ability to compete head-on with Nvidia. He believes AMD still has work to do on the software front to fully unlock the value of its AI hardware.
Is AMD a Buy or Sell Now?
AMD stock price target of $132.76 indicates a possible downside of 3.73% from current levels.
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