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This semiconductor stock could soon overtake Intel, Raymond James says
CNBC • • technology
Key Points:
- Raymond James upgraded AMD to a strong buy from outperform, raising its price target to $641, indicating a 40% upside from recent levels, citing AMD's strong earnings leverage, datacenter positioning, and market-share gains.
- The firm projects AMD will overtake Intel in the CPU market by 2027, driven by growth in AI and computer adoption, with AMD's x86 processor market share recently surpassing 30%.
- The CPU market is expected to reach $201 billion by 2030, fueled by growth in conventional datacenter CPUs, AI head-end CPUs, and agentic AI CPUs, with autonomous AI agents seen as a key growth driver.
- AMD shares have risen 113% in 2026, outperforming the broader market, though they have declined about 2% in the past three months; the stock gained over 2% following the Raymond James upgrade.
- Wall Street consensus is largely positive on AMD, with 45 out of 54 analysts rating the stock as buy or strong buy.
