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Advanced Micro Devices Inc (NASDAQ:AMD) shares are rising Wednesday following the company’s analyst day. Multiple analysts raised price targets on the chip stock on the heels of the event.
What To Know: AMD said it expects a more than 35% revenue compound annual growth rate over the next three to five years as it held its first financial analyst day since 2022 on Tuesday.
The chipmaker guided for non-GAAP operating margins above 35% and gross margins ranging from 55% to 58%, as well as adjusted earnings per share of more than $20 on an annual basis.
AMD expects the strong growth to be spearheaded by its AI data center business, which is anticipated to grow at a compound annual rate of more than 80%. AMD said its Instinct MI350 series GPUs are ramping faster than any product in the company's history. The company's MI450 Series GPUs are expected in the third quarter of 2026, with a planned MI500 series anticipated to launch in 2027.
"With the broadest portfolio of products and our deepening strategic partnerships, AMD is uniquely positioned to lead the next generation of high-performance and AI computing,” said Lisa Su, chair and CEO of AMD. “We see a tremendous opportunity ahead to deliver sustainable, industry-leading growth. We have never been better positioned."
Following AMD’s financial analyst day, several analysts boosted price targets on the chip stock.
AMD Price Action: AMD shares were up 6.26% at $252.39 at the time of publication on Wednesday, according to Benzinga Pro.
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Posted In: AMD
