Analysts at Baird have raised their price target for Advanced Micro Devices (AMD) stock to $1,250, doubling the previous target.
The revision, announced on July 27, 2026, reflects growing confidence in AMD's expanding artificial intelligence customer base and product lineup.
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The new target implies a 139.5% upside from current trading levels.
Baird maintained its "Outperform" rating for the Santa Clara, California-based company, which holds a market capitalization of $851.1 billion.
AI Revenue Projections and Market Outlook
Baird analysts project AMD's revenue from AI graphics processing units (GPUs) could reach $147 billion by 2030.
This forecast is based on an expected 15% market share in the AI chip sector.
The price target adjustment follows AMD's updated expectations for the AI accelerator market.
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The company now forecasts the market will hit $1.40 trillion by 2030, up from a previous estimate of over $1 trillion.
Rising computational demands for agentic AI and next-generation systems drove the elevated outlook.
Operationally, AMD is expanding production of its next-generation EPYC processor, codenamed Venice. The chip will be manufactured using Taiwan Semiconductor Manufacturing Company's advanced 2nm process node.
Additionally, AMD plans to ship its first AI rack-scale system, called Helios, to select hyperscalers later this year.
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The system is positioned as a direct competitor to Nvidia's infrastructure offerings.
