Few stocks have captured the Artificial Intelligence (AI) moment quite like Advanced Micro Devices.

Advanced Micro Devices, Inc. (AMD) has climbed 59% year to date, and the one year return stands at 245%, according to Yahoo Finance. Those numbers reflect a market that has decided AMD is no longer a distant second in the AI chip race. It is a genuine force reshaping the data center landscape.

Morgan Stanley is paying attention. The bank raised its price target on AMD to $360 from $255, part of a broader round of semiconductor upgrades during earnings season. The call lands on the eve of AMD’s first quarter 2026 earnings report on May 5 after market close, setting up one of the most closely watched prints in the tech sector this…