AMD Stock: Price Targets After AI Showcase & 5-Month High
AMD Stock Gains Momentum After AI Event, Analyst Upgrades
Advanced micro Devices (AMD) shares continued to climb Tuesday, buoyed by positive Wall Street commentary following last week’s “Advancing AI” event.
analyst Optimism Fuels AMD Stock
Piper Sandler raised its price target for AMD, citing enthusiasm for the company’s Helios server rack architecture. This system, slated for a 2026 release, will integrate AMD’s next-generation MI400 chips. The firm views this hardware as critical for the growth of AMD Instinct GPUs.
Bank of America analysts speculate that Amazon (AMZN) could be announced as a partner, noting amazon Web Services (AWS) was a key sponsor of the recent event.
AMD Stock Performance
AMD shares rose 0.6% to around $127 on Tuesday, following an almost 8% surge the previous day. The stock has increased 66% as early April, but onyl 5% since the start of 2025. Uncertainty remains regarding chip export restrictions and AMD’s ability to capture a larger share of the AI chip market, currently dominated by Nvidia (NVDA).
Technical Analysis: Key Price Levels for AMD
AMD shares formed a pennant pattern after hitting their May high, signaling a continuation of the uptrend that began in early April.
The stock broke out of this pattern earlier in june, closing above the 200-day moving average on Monday.The relative strength index (RSI) indicates bullish momentum, remaining just below the overbought threshold.
Crucial resistance Levels
Potential follow-through buying could drive the stock toward $145, an area that may present overhead selling pressure due to peaks and troughs formed between April and December of the previous year. A decisive move above $145 could lead to a test of resistance around $160, where investors might take profits near a trendline connecting trading activity from April to October last year. The next resistance area to watch is $175, where peaks emerged in May and October last year.
Key Support Levels
During pullbacks,the $115 level is the first support to monitor. This area aligns with last week’s retest of the pennant pattern’s breakout point and price action dating back to mid-January. A break below $115 could lead to a drop to lower support around $108, near the pennant pattern’s low and the early-February low, where investors might accumulate shares.