Wells Fargo Adds AMD to Q2 Ideas List with $345 Target

Wells Fargo has added Advanced Micro Devices to its second-quarter Tactical Ideas List, assigning an Overweight rating and a price target of $345 per share, as the chipmaker prepares to report first-quarter results on April 30, 2026. The move highlights growing institutional confidence in AMD's position amid surging demand for its server processors and artificial intelligence hardware.

Analyst Aaron Rakers at Wells Fargo pointed to sustained momentum in AMD's EPYC server CPUs, which have seen strong uptake in data centers driven by enterprise and cloud computing needs. The firm also anticipates announcements of gigawatt-scale AI graphics processing unit deals around the upcoming earnings, building on customer engagements for the MI450 series and Helios platform. During AMD's fourth-quarter earnings call, Chief Executive Officer Lisa Su stated that "the customer engagements continue to proceed very well" and that the MI450 ramp with OpenAI remains "on schedule to start in the second half of the year." Wells Fargo views AMD's Advancing AI event, set for July 22-23, 2026, in San Francisco, as another potential catalyst, where executives plan to unveil next-generation technologies...