AMD Just Hit $1 Trillion After A Blistering 194% Surge YTD — Beth Kindig Says The ‘Dark Horse’ Still Has Room To Run

Bank of America raised its target price for AMD to $720, citing strong CPU demand. AMD's server CPU sales are projected to grow significantly, with the company aiming for a $100 billion market share by 2030. AMD's stock closed at $630.63, up 0.22%, and trades at 57x forward earnings.

AMD's market cap exceeded $1 trillion for the first time, driven by a 9.6% stock rally to $613.50. The surge reflects investor confidence in its AI computing infrastructure and long-term growth, according to analysts.

AMD's market cap reached $1 trillion. BofA raised its price target to $720, citing AI-driven demand for server CPUs. The firm estimates the server CPU market could grow to $211 billion by 2030, with AMD as a major beneficiary. AMD shares rose 0.6% to $632.99 in early trading.

AMD's shares surged 10%, reaching a $1 trillion market cap, driven by AI chip demand. Meta's Muse AI app boosted its stock. Moderna rallied 30% on cancer vaccine data. Akamai gained 15% after a $11.6B deal with Anthropic. Treasury yields hit 19-year highs, testing rally staying power.

Bank of America raised AMD's price target to $720 from $620, citing AI-driven CPU demand. Analyst Vivek Arya expects server CPU sales to grow to $211B by 2030, with AI-related chips accounting for 86%. AMD is favored for its broad CPU portfolio, with a 14% upside implied. Nvidia remains the top pick in the sector.

BofA Securities raised its price target for AMD to $720, citing the potential for the server CPU market to triple by 2030. The firm projects AI workloads will drive significant demand, benefiting AMD's competitive x86 server CPU lineup. BofA also raised its EPS estimates for AMD and reiterated Buy ratings for NVIDIA and Intel.