AMD’s (NASDAQ: AMD) August 4 earnings report signaled growing confidence in the company’s artificial intelligence (AI) growth trajectory, prompting market analysts to revisit their AMD stock price targets despite falling share prices.

Notably, Truist raised its AMD share price target to $594 from $478, reiterating its ‘Buy’ rating on improving product performance, accelerating customer demand, and strong execution, all of which support a strong long-term outlook.

The brokerage also noted the company’s updated data center forecast, with management now expecting the segment to more than double by 2027, supported by expanding AI deployments and growing customer commitments.

Reflecting that optimism, Truist likewise…