$AMD holds steady at Bernstein with a Buy rating and $650 price target unchanged. That's roughly 5x current levels if you're doing the math—ambitious but not unheard of in chip rallies. The firm clearly sees datacenter AI momentum offsetting any PC or gaming softness. Worth noting: maintaining a PT isn't the same as raising it. Conviction or caution? Hard to say without the full thesis, but $650 implies they expect MI300 ramps and share gains in AI accelerators to play out over the next 12-18 months.