Why Is AMD (AMD) Stock Rocketing Higher Today
Yahoo Finance ·
Why Is AMD (AMD) Stock Rocketing Higher Today Weixin Lin Thu, July 9, 2026 at 5:59 PM EDT 2 min read AMD What Happened? Shares of computer processor maker AMD (NASDAQ:AMD) jumped 5.8% in the afternoon session after a Morgan Stanley supply chain report highlighted surging demand for its next-generation chips, sparking multiple bullish analyst calls. The report indicated that allocation for AMD's high-performance infrastructure, including its upcoming MI400 series AI accelerators and Venice server processors, is expected to rise significantly through 2027. This news fueled existing optimism, as multiple analysts had recently turned more positive on the stock. In the previous week, Goldman Sachs reiterated its Buy rating and increased its price target. Additionally, William Blair initiated research coverage, calling AMD a "major beneficiary of the AI infrastructure boom" and projecting sales to double between 2026 and 2028. The rally was part of a broader rebound in the semiconductor sector after a multi-day slide, with some commentators suggesting the selloff presented a buying opportunity. Is now the time to buy AMD? Access our full analysis report here, it's free . AMD's shares are extremely volatile and have had 41 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. The previous big move we wrote about was 3 days ago when the stock gained 9.2% on the news that Japanese self-driving startup Turing announced it started using the company's AI GPUs and received an investment from AMD's venture capital arm. Turing, which previously relied on competitor Nvidia, now runs about 10% of its AI training on AMD's hardware to help lower costs. This news signals a key customer win for AMD in the competitive artificial intelligence market. The move also came as the broader chip sector stabilized after recent weakness. Adding to the positive sentiment, Wall Street analysts recently lifted their price targets for AMD. On June 30, Wells Fargo raised its target to $615, citing strong server-CPU demand, while Cantor Fitzgerald increased its target to $700, pointing to a 'generational cycle' in AI semiconductors. AMD is up 144% since the beginning of the year, and at $544.60 per share, it has set a new 52-week high. Investors who bought $1,000 worth of AMD's shares 5 years ago would now be looking at an investment worth $5,991. ALSO WORTH WATCHING: Nvidia's Quiet Partner. Nvidia's chips cost a hundred grand. The connectors that make them work cost even more. One company makes them all. Every AI server needs specialized infrastructure the chip companies don't make. High-speed cables. Power connectors. Thermal sensors. This 90-year-old company built a monopoly on it. The AI boom just started. This stock is still flying under the radar. Claim The Stock Ticker Here for FREE .
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