The higher target comes as AMD’s expanding server CPU business strengthens its outlook and sharpens competition with Intel, even as investor attention remains fixed on AI-driven semiconductor demand.
Wells Fargo raised its target price on Advanced Micro Devices to $615 from $505, reflecting a more bullish view of the chipmaker as its server CPU business gains momentum. The new source links the stronger outlook to AMD’s emphasis on server processors over GPUs, a strategic tilt that could reshape competitive dynamics in semiconductors and intensify pressure on Intel. The move also fits into broader investor enthusiasm around artificial intelligence and data center demand, which continue to influence expectations for major chipmakers. The source did not provide Wells Fargo’s detailed rating rationale, timeframe, or financial estimates beyond the improved server CPU revenue outlook.