What the analyst said
Stifel analyst Ruben Roy reiterated a Buy rating and $280.00 price target on AMD (NASDAQ: AMD).
“AMD reported above-consensus F4Q results ($10.3bn revenue, 57.0% adj-GM, $1.53 adj-EPS vs. $9.7bn, 54.5%, $1.32, respectively), helped by a $390mn MI308 China revenue and accounting tailwinds (i.e. $360mn inventory reserve release tied to previously written-down China inventory).
Excluding these factors, pro-forma adj-GM was 55.0% (+80bps y/y).
F1Q guidance was above-consensus on revenue ($9.8bn vs. $9.4bn), helped by $100mn in non-recurring China revenue (conservative on guide given lack of visibility), but relatively in line on adj-GM (55.0% vs.
54.7%), with no margin benefit expected from China (i.e. inventory reserves cover these sales).
AMD remains on track for the 2H26 production ramp of the MI450-series GPUs and the Helios rack-scale platform.
Reaffirmed visibility from the multi-year, phased, 6GW OpenAI deployment and other CSP commitments support management’s anticipated >60% CAGR Data Center growth target, from their Investor Day, potentially to be realized starting 2026.
Successful rack-scale deployments at scale remains the primary catalyst.”
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Where the price stands
AMD trades at $492. The 25 analysts who set a target in the last 3 months range from $510 to $1,250, with a median of $675. This $280 target is 59% below the median, the lowest on the Street.
Since the note AMD has moved +103% (from $242). 12-month window: day 273 of 365, closes on February 4, 2027.
Track record
This call✓ Target reached on April 21, 2026, 3 months after the note.
Firm track recordStifel: 83% of its 41 targets at least a year old were reached within 12 months (#5 of 26 firms); on AMD, 3 of 3. Accuracy ranking →
Stifel on AMD
Stifel price targets on AMD
8 calls from May 19, 2025 to May 6, 2026. The target went from $132 to $450 (+241%). The rating stayed Buy.
- May 6, 2026Target raised from $320 (+41%)Buy$450
- April 20, 2026Target raised from $280 (+14%)Buy$320
- February 4, 2026 This noteKept the $280 targetBuy$280
- February 4, 2026Kept the $280 targetBuy$280
- November 5, 2025Target raised from $240 (+17%)Buy$280
- October 6, 2025Target raised from $132 (+82%)Buy$240
- June 13, 2025Kept the $132 targetBuy$132
- May 19, 2025Earliest call shownBuy$132
Other analysts on AMD
JP MorganHold
Raised price target +5%, kept rating · Nov 4
$575from $550
Piper SandlerBuy
Raised price target +8%, kept rating · Nov 4
$650from $600
UBSBuy
Cut price target −4%, kept rating · Nov 4
$700from $730
Melius ResearchBuy
Raised price target +8%, kept rating · Nov 4
$650from $600
SusquehannaBuy
Kept rating and price target · Nov 4
$650maintained