Goldman Sachs AMD

Goldman Sachs Reiterates Neutral Rating on AMD

Analyst: James Schneider 1 min read Reproduced verbatim
Rating
Neutral
Unchanged
Target
$210
Unchanged
Outcome
Reached
on February 4, 2026
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What the analyst said

Goldman Sachs analyst James Schneider reiterated a Neutral rating and $210.00 price target on AMD (NASDAQ: AMD).

“We expect the stock to trade down following a strong revenue quarter and guidance driven by upside in the Datacenter segment, offset by significantly higher-than-expected OpEx guidance.

We believe investors were constructively positioned heading into the report given optimism around market strength and share gains in server CPUs, the ongoing strength in AI infrastructure buildouts, and expectations for a strong MI455X ramp in 2H.

We expect the company will continue to see solid momentum in its Datacenter business over the course of 2026 driven by server market share gains and the ramp of its MI400 series products, but we see limited near-term operating leverage given AMD’s significant software and systems investments tied to its AI infrastructure ramp.

We remain Neutral on the stock given limited near-term operating leverage as well as likely high customer concentration for AMD’s GPU datacenter business.

However, we could consider a more constructive stance if we gain incremental confidence on the revenue stream and execution timeline for this deal in the coming quarters.”

Disclaimer
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This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.

Where the price stands

AMD trades at $491. The 23 analysts who set a target in the last 3 months range from $510 to $800, with a median of $685. This $210 target is 69% below the median, the lowest on the Street.

Since the note AMD has moved +103% (from $242). 12-month window: day 272 of 365, closes on February 4, 2027.

Track record

This call✓ Target reached on February 4, 2026, 0 days after the note. Same target as this firm’s February 4, 2026 note, so it is scored there.

Firm track recordGoldman Sachs: 78% of its 36 targets at least a year old were reached within 12 months (#16 of 26 firms); on AMD, 3 of 3. Accuracy ranking →

Goldman Sachs on AMD

Goldman Sachs price targets on AMD

8 calls from January 10, 2025 to May 6, 2026. The target went from $129 to $450 (+249%). The rating moved from Hold to Buy.

Goldman Sachs targetAMD share price
  1. May 6, 2026Upgraded to Buy, target raised from $240 (+88%)Buy$450
  2. February 25, 2026Target raised from $210 (+14%)Hold$240
  3. February 4, 2026 This noteKept the $210 targetHold$210
  4. February 4, 2026Target raised from $140 (+50%)Hold$210
  5. July 10, 2025Target raised from $125 (+12%)Hold$140
  6. February 5, 2025Target cut from $129 (−3%)Hold$125
  7. January 13, 2025Kept the $129 targetHold$129
  8. January 10, 2025Earliest call shownHold$129
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Other analysts on AMD

Morgan StanleyHold Raised price target +10%, kept rating Nov 2 $510from $465 SusquehannaBuy Raised price target +5%, kept rating Oct 28 $650from $620 Aletheia CapitalBuy Raised price target +14%, kept rating Oct 28 $800from $700 SusquehannaBuy Raised price target +13%, kept rating Oct 21 $620from $550 TD CowenBuy Kept rating and price target Oct 19 $675maintained
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.