TradingKey – On June 30, EST, AMD ( AMD) surged to $579.73 at one point, hitting another record high. As of press time, it rose over 7% to $577.61. Reportedly, Wells Fargo raised its price target for AMD from $505 to $615, an upward adjustment of over 21%, while maintaining an “Overweight” rating.

[Source: TradingView]

Wells Fargo significantly revised upward its CPU revenue forecasts for AMD, projecting CPU revenues of $16.0 billion, $20.5 billion, and $25.0 billion for 2026, 2027, and 2028, respectively.

Analysts at the institution expect AMD’s revenue to grow by 68% year-on-year in 2026, and by 28% and 22% in 2027 and 2028, respectively, at which point annual CPU revenue will reach approximately $25 billion. Growth forecasts for GPUs…