Piper Sandler Reiterates Overweight Rating on AMD

Piper Sandler analyst Harsh Kumar reiterated an Overweight rating and $300.00 price target on AMD (NASDAQ: AMD).

“AMD reported an exceptionally strong December quarter alongside a very good March quarter guidance.

The company beat Q4 expectations by roughly $600 million and guided March quarter revenue more than $380 million above consensus.

AMD is seeing very strong acceleration in multiple aspects of its business namely, Server CPU, data center GPUs, Client, and Embedded.

Furthermore, to the course of full year 2026, we expect GPUs, server CPUs, Client, and Embedded to all grow double-digits.

More specifically, we expect data center to grow in the 62% range y/y in 2026 and 66% y/y in 2027 largely driven by the OpenAI deal.

Management noted that there are additional multi-GW deals, some public and some non-public, that could potentially contribute in 2H26. As such, we feel our numbers could prove to be conservative.

We reiterate our OW rating and maintain our $300 PT.”

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