AMD stock rallies 118.3% year to date on data center revenue surge; 24/7 Wall St. sets $527.29 price target with 90% confidence

AMD's Q1 2026 revenue reached $10.25 billion, up 37.9% year over year, with Data Center revenue hitting $5.775 billion and growing 57% YoY. Management guided Q2 2026 to roughly $11.20 billion, or about 46% growth.

OpenAI committed to 6 gigawatts of AMD GPU deployment and Meta Platforms committed to up to 6 GW of Instinct GPUs as multi-year revenue streams. Oracle is deploying a 27,000-node AI cluster with a 50,000 GPU supercluster planned for Q3 2026.

24/7 Wall St. price target of $527.29 implies 12.79% upside from the $467.51 current price, with a bull-case scenario pointing to $550.67 over the next 12 months. Analyst ratings break down to 4 Strong Buy, 33 Buy, 13 Hold, and zero Sell.

Valuation risk presents a headwind: AMD trades at a P/E of 176 with an implied forward multiple of 102×. Export controls remain a live threat after the $800 million MI308 charge in Q2 2025 reduced China revenue.