AMD's price target was increased to $640, with 2026E/2027E EPS revised up by +2%/+11% respectively, driven by strong AI demand. The company anticipates its 2027 GPU demand visibility to be 40–50% above current CoWoS supply, suggesting further upward revisions. Datacenter CPU ASPs are expected to rise 30–35% YoY in 2027, with a near-term price hike likely in late Q3 2026.
AMD is securing significant AI GPU demand from frontier labs, tightening CoWoS supply and driving datacenter CPU price increases across the market.