Baird kept its Outperform rating on Advanced Micro Devices and raised its price target to $1,250 from $625, a 100% increase, according to a July 24 report cited by BlockBeats. The firm said the revision reflects stronger expectations for growth across AMD’s AI GPU and AI CPU platforms. In its model, Baird assumes AMD can capture 15% of the AI GPU market and generate $147 billion in AI GPU revenue by 2030.
The report also referenced AMD’s own market outlook. AMD has previously estimated that the data center AI accelerator market could reach $1.4 trillion by 2030, while the data center CPU market could grow to $220 billion over the same period. On the product side, AMD’s Helios rack-scale solution has entered full production, and Helios 500 has already been introduced ahead of schedule. Baird said the sharp increase in its target price was also based on its preliminary forecast for AMD’s 2030 earnings per share.
Baird maintained its Outperform rating on Advanced Micro Devices and lifted its price target to $1,250 from $625 on July 24, according to BlockBeats.
The new target represents a 100% increase. Baird said the change mainly reflects its expectations for strong growth in AMD’s AI GPU and AI CPU platforms.
In its forecast model, the firm assumes AMD will reach a 15% share of the AI GPU market. It also projects AMD’s AI GPU revenue will reach $147 billion in 2030.
AMD has previously said the data center AI accelerator market could reach $1.4 trillion by 2030, while the data center CPU market could total $220 billion. The company’s Helios rack-scale solution has entered full production, and Helios 500 has also been unveiled earlier than expected.
Baird said its large upward revision to the price target was based on its preliminary forecast for AMD’s earnings per share in 2030.
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