Key Highlights
- Advanced Micro Devices has climbed for 11 consecutive trading sessions, marking its most extended winning period since 2005
- Shares have surged 32% during this remarkable 11-day stretch and jumped 192% in the trailing twelve months
- Bernstein SocGen Group elevated its AMD price objective to $265 from its previous $235 target while maintaining a Market Perform stance
- The firm’s updated 2027 revenue projection stands at $76.7 billion, significantly surpassing the Wall Street consensus of $67.5 billion, driven partly by the Meta partnership
- Taiwan Semiconductor delivered strong quarterly earnings on the same trading day
Advanced Micro Devices has been assembling one of its most impressive performance streaks in nearly twenty years. Through Wednesday’s market close, shares had climbed 32% across 11 consecutive sessions — representing the company’s longest unbroken winning run since 2005, according to data compiled by Dow Jones Market Data.
Advanced Micro Devices, Inc., AMD
Shares edged up an additional 0.3% during Thursday’s premarket session, positioning the chipmaker for a potential 12th straight day of advances.
Looking at the broader timeframe, AMD has skyrocketed 192% over the trailing year. For 2025 year-to-date, the semiconductor stock has posted a 21% increase. This sustained momentum has benefited from a wider equity market surge, including renewed investor confidence following the Iran ceasefire agreement.
On Thursday, Taiwan Semiconductor — the planet’s dominant contract semiconductor manufacturer — unveiled a substantial quarterly profit increase, further bolstering sentiment across the chip industry.
The broader semiconductor sector presented mixed signals ahead of Thursday’s opening bell. Nvidia shares declined, Intel posted gains, and Marvell traded essentially flat.
Bernstein Elevates Price Target, Highlights Meta Partnership
Bernstein SocGen Group lifted its AMD price objective to $265 from $235, while preserving its Market Perform rating. At that juncture, shares were changing hands near $258, approaching the 52-week peak of $267.08.
The investment firm revised its financial model to incorporate heightened server demand projections while lowering PC market expectations. Analysts now anticipate EPYC CPU revenue will expand approximately 50% year-over-year throughout 2026.
A critical component of this revised forecast centers on AMD’s strategic agreement with Meta, which Bernstein contends the market has yet to completely incorporate into valuations.
For the first quarter of 2026, Bernstein projects $9.9 billion in quarterly revenue alongside $1.27 in earnings per share. For calendar year 2026, the firm anticipates $45.8 billion in total revenue and $6.48 EPS — trailing Street consensus figures of $47 billion and $6.74 respectively.
2027 Projections Show Dramatic Upside
The most substantial revision appears in Bernstein’s 2027 financial estimates. The firm currently models $76.7 billion in revenue and $13.23 EPS for that fiscal year — representing a dramatic increase from its earlier projection of $56.7 billion and $9.25, and substantially exceeding the Wall Street consensus of $67.5 billion.
This significant upward revision stems primarily from the Meta AI partnership and enhanced server market assumptions.
Bernstein did identify one potential headwind: Wall Street’s PC market estimates for 2026 appear inflated, which could pressure near-term financial results.
Other Wall Street firms have expressed similarly bullish views. Erste Group upgraded Advanced Micro Devices to Buy from Hold, emphasizing data center momentum and margin expansion. Aletheia Capital reaffirmed its Buy recommendation, highlighting AMD’s expanding presence in artificial intelligence computing infrastructure.
AMD is scheduled to announce quarterly earnings on May 5. Management previously provided guidance calling for 32% year-over-year revenue expansion in the first quarter of 2026, propelled by robust data center CPU and GPU demand.
At prevailing price levels, InvestingPro’s Fair Value analysis suggests the stock trades above fundamental value, although AMD maintains an attractive PEG ratio of 0.59.
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