Key Takeaways
- Advanced Micro Devices has posted gains for 11 consecutive trading sessions, marking its longest winning run in nearly 20 years
- Shares have climbed 32% during this 11-day period and have surged 192% over the trailing 12 months
- Bernstein SocGen Group lifted its price objective to $265 from $235 while maintaining a Market Perform stance
- The firm’s 2027 revenue projection now stands at $76.7 billion, significantly above consensus estimates of $67.5 billion, bolstered by AMD’s Meta partnership
- Taiwan Semiconductor’s strong quarterly earnings added momentum to the chip sector on the same trading day
Advanced Micro Devices has been assembling one of its most remarkable winning streaks in company history. Through Wednesday’s market close, shares had appreciated 32% across 11 consecutive sessions — representing the chipmaker’s longest uninterrupted closing advance since 2005, data from Dow Jones Market Data confirms.
Advanced Micro Devices, Inc., AMD
In premarket activity Thursday, the semiconductor stock added another 0.3%, positioning the shares for a potential 12th straight day in positive territory.
Looking at the broader picture, AMD has climbed 192% during the past year. In 2025 alone, the stock has advanced 21%. The recent momentum has been supported by a wider market upswing, including sentiment improvements connected to the ceasefire agreement with Iran.
Thursday brought additional sector tailwinds when Taiwan Semiconductor — the dominant player in contract chip manufacturing globally — disclosed a substantial increase in quarterly profits, further enhancing the bullish atmosphere surrounding semiconductor stocks.
Performance across the chip sector showed divergence heading into Thursday’s opening bell. Nvidia shares retreated, Intel moved higher, and Marvell traded relatively unchanged.
Analyst Upgrade Highlights Meta Partnership Impact
Bernstein SocGen Group increased its price target on AMD to $265 from a previous $235, though the firm retained its Market Perform rating. At the time of the revision, shares were trading near $258, approaching the 52-week peak of $267.08.
The investment bank refreshed its financial model to incorporate enhanced server market demand while tempering personal computer projections. Bernstein now anticipates EPYC CPU revenue growth of approximately 50% year-over-year throughout 2026.
A critical element of the updated forecast involves AMD’s collaboration with Meta, which Bernstein contends the investment community has yet to fully appreciate.
For the first quarter of 2026, Bernstein projects $9.9 billion in revenue alongside $1.27 in earnings per share. The full-year 2026 forecast calls for $45.8 billion in revenue and $6.48 EPS — figures that trail Street consensus expectations of $47 billion and $6.74.
Forward Projections Show Dramatic Revenue Acceleration
The most significant adjustment appears in Bernstein’s 2027 financial outlook. The firm now anticipates $76.7 billion in revenue and $13.23 EPS for that fiscal year — a substantial revision upward from its previous estimate of $56.7 billion and $9.25, and notably above the consensus projection of $67.5 billion.
This substantial increase stems primarily from the Meta AI collaboration and elevated server market assumptions.
Bernstein did identify one potential headwind: consensus PC forecasts for 2026 appear overly optimistic, which could create pressure on near-term financial results.
Several other analysts have expressed bullish views recently. Erste Group elevated AMD to Buy from Hold, highlighting data center momentum and margin expansion. Aletheia Capital reaffirmed a Buy rating, emphasizing AMD’s expanding presence in AI infrastructure.
AMD is scheduled to announce quarterly results on May 5. Management previously provided guidance calling for 32% year-over-year revenue expansion in Q1 2026, powered by robust data center CPU and GPU adoption.
At present valuation levels, InvestingPro’s Fair Value analysis suggests the stock may be overvalued, although AMD maintains an attractive PEG ratio of 0.59.
