Goldman Sachs upgraded AMD to Buy following the company's first-quarter 2026 earnings report. The bank raised its price target to $450 from $240. Analysts cited structural benefits from agentic AI for server CPUs as a catalyst. The firm also identified significant growth potential for data center GPUs.
Goldman Sachs increased its 2027 and 2028 EPS forecasts by 14%. These projections sit 20% above the market consensus.
AMD reported first-quarter revenue of $10.3 billion. This figure represents a 38% year-over-year increase. The data center segment drove performance with a 57% revenue surge.
The company forecasted second-quarter revenue of approximately $11.2 billion. This guidance exceeds analyst expectations and signals sustained AI demand.