Investment firm Oppenheimer upgraded Advanced Micro Devices to outperform, setting a price target of $600. Analyst Rick Schafer issued the rating on November 9, 2026, following the company's closing price of $449.04 on November 6, 2026.
AMD reported record third-quarter data center revenue of $8.5 billion, a 97% year-over-year increase. Total quarterly revenue reached $13.4 billion, reflecting 45% growth. The data center segment now represents more than half of the company's total sales, driven by EPYC CPUs and the launch of MI450 and Helios GPUs.
The company projects fourth-quarter 2026 revenue of approximately $17 billion, marking a 66% year-over-year increase. CEO Lisa Su anticipates revenue growth exceeding 80% for 2027. Oppenheimer projects data center revenue will grow by 135% in 2027, potentially accounting for 85% of total sales.
Demand is fueled by major customers including OpenAI, Meta, Anthropic, Oracle, and Microsoft. AMD has modeled 3 gigawatts of AI deployment for 2027 and 4 gigawatts for 2028. Future performance depends on GPU roadmap execution, supply chain capacity, and the spending stability of key hyperscalers.
