Advanced Micro Devices (AMD) shares are ripping higher on Wednesday after the company reported blockbuster financials for its Q1 and offered impressive guidance for the future.
As investors cheered the firm’s 57% year-on-year increase in data center revenue, AMD’s relative strength index (RSI) climbed into the early 80s, signaling overbought conditions that often precede a pullback.
Still, Barchart’s proprietary data suggests AMD stock — that’s already more than doubled in a little over a month — could push higher through the remainder of 2026.
Barchart Favors Owning AMD Stock in 2026
Barchart currently has a “100% BUY” opinion on AMD shares, based on a comprehensive analysis of 13 distinct, short-, medium-, and long-term technical indicators.
At the time of writing, the multinational chipmaker sits decisively above its key moving averages (MAs) as well, reinforcing a strong uptrend.
Meanwhile, derivatives data also remains constructive. According to Barchart, the upper price on options contracts expiring Aug. 21 sits at about $521 currently, signaling potential for another 27% upside from here.
Note that Advanced Micro Devices is currently going for about 16x sales, which still represents a meaningful discount compared to Nvidia’s (NVDA) 22x.
Goldman Sachs Sees Further Upside in AMD Shares
Goldman Sachs’ senior analyst James Schneider also recommends sticking with AMD stock after the company’s stellar Q1 earnings.
According to him, the Nasdaq-listed firm could hit $450 as the rise of agentic artificial intelligence (AI) continues to boost demand for its server CPUs.
Plus, GPU sales will also grow at a solid clip on the back of strong deployment opportunities with major players like Meta Platforms (META), the analyst added.
Other reasons Schneider cited for his bullish view on Advanced Micro Devices include its outlook for $11.2 billion in revenue in the current quarter, well ahead of the $10.5 billion consensus.
Wall Street’s View on Advanced Micro Devices
Other Wall Street firms seem to agree with Goldman Sachs' stance on Advanced Micro Devices as well.
Experts at Bernstein, TD Cowen, and Stifel also raised their price targets on AMD shares today — reflecting a broad shift in analyst sentiment toward the company’s central role in AI infrastructure buildout.
On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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