What the analyst said
JPMorgan analyst Harlan Sur reiterated a Neutral rating and $130 price target on AMD (NASDAQ: AMD)
“We held investor meetings this week with AMD CEO Lisa Su And we came away with view that the team is incrementally more confident on driving strong doubledigits% growth (>20% in our view) and stronger earnings growth in CY25 on a diverse set of drivers: 1) continued share gains in server CPUs (strong traction with cloud/hyperscalers, continued share gains in enterprise) on top of improving server demand trends 2) continued share gains in desktop/notebook CPUs on top of improving demand trends, 3) growth in its more cyclical businesses (gaming/ embedded) and 4) strong growth profile in its AI GPU business (>60% growth in AI GPUs this year by our estimates) as the team prepares for a strong 2H ramp of its next-gen MI350 accelerator platform (we got a preview of its early traction with the MI355X as Oracle announced on Monday night it had placed a multi-billion dollar order, with an initial tranche of 30K MI355x next-gen GPUs, to build a cluster targeted at both training and inferencing workloads) and we believe the team is working to transition existing customers (Microsoft, Meta, Oracle) and new customers (Tier-1 cloud/hyperscalers) to its MI350 platform mid-year this year ahead of its rackscale (>100K GPUs per cluster) next gen MI400 platform in CY26.
Overall, the key message is that the team’s strong and diversified data center/enterprise/client compute portfolio will drive strong growth in CY25 – combination of share gains, improving demand/cyclical trends, and growing momentum for its next-gen AI compute solutions.”
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Where the price stands
AMD trades at $562. The 26 analysts who set a target in the last 3 months range from $465 to $1,250, with a median of $680. This $130 target is 81% below the median, the lowest on the Street.
Since the note AMD has moved +481% (from $96.76). The 12-month window closed on March 12, 2026.
Track record
This call✓ Target reached on June 24, 2025, 5 months after the note. Same target as this firm’s February 5, 2025 note, so it is scored there.
Firm track recordJP Morgan: 64% of its 14 targets at least a year old were reached within 12 months (#23 of 25 firms); on AMD, 2 of 2. Accuracy ranking →
JP Morgan on AMD
JP Morgan price targets on AMD
4 calls from February 5, 2025 to May 6, 2026. The target went from $130 to $385 (+196%). The rating stayed Hold.
- May 6, 2026Target raised from $120 (+221%)Hold$385
- May 7, 2025Target cut from $130 (−8%)Hold$120
- March 12, 2025 This noteKept the $130 targetHold$130
- February 5, 2025Earliest call shownHold$130
Other analysts on AMD
MizuhoBuy
Raised price target +22%, kept rating · Oct 6
$705from $580
CitiBuy
Raised price target +39%, kept rating · Oct 6
$800from $575
StifelBuy
Raised price target +10%, kept rating · Oct 5
$700from $635
CantorBuy
Kept rating and price target · Oct 5
$700maintained
RosenblattBuy
Kept rating and price target · Sep 29
$700maintained