On October 19, TD Cowen reiterated its Buy rating on AMD and its $675 price target. According to Sina Finance, the firm said rapid growth in agentic AI and production AI inference workloads is driving a recovery in data-center CPU demand.

AMD had raised its CPU total addressable market estimate to $220 billion, nearly doubling it, and forecast 70% year-over-year growth in server CPU revenue in 2027. TD Cowen also slightly raised its earnings forecasts for AMD and Intel, citing sustained data-center CPU demand. AMD's revenue rose 40% year over year over the past 12 months, while analysts expected its fiscal 2026 revenue to grow 47%.

Citigroup raised its AMD price target to $800. Stifel lifted its target to $700 and maintained its Buy rating, while Cantor Fitzgerald reiterated its Overweight rating and $700 target. Using the cited share price of $546.68, TD Cowen's target implied potential upside of about 23.5%. AMD shares fell about 11% over the past week but were up 147% in 2026.

AMD CEO Lisa Su recently confirmed plans to significantly increase chip supply in 2027 to meet rising AI computing demand.