AMD rises as GF ups price target ahead of Q3 results

What happened

AMD shares rose 1.5% in premarket trading on Tuesday after GF Securities raised its price target to $720, ahead of third-quarter results due on Nov. 3. Analyst Jeff Pu said he expects results in line with expectations but slightly below current-quarter guidance.

Confirmed

Global impact / market context

A higher price target signals one analyst sees more value in AMD, which can support investor confidence before earnings. Because expectations are already high, even in-line results may not lift the stock, so guidance for data center chips matters more than the reported quarter itself.

Analyst inference

The note points to growing demand for AI data center chips, with server chip revenue forecast to grow 100% in 2027 and 50% the following year. It also flags more 2nm wafer supply for AMD, which means silicon wafers made on a newer, denser manufacturing process.

Analyst inference

What to watch

1. AMD reports third-quarter results on Nov. 3, and the analyst expects in-line results but guidance slightly below current-quarter expectations. Confirmed
2. GF Securities proposed a $720 price target, so watch whether AMD's own outlook and data center commentary support that higher valuation. Proposed
3. Watch whether server chip revenue, Helios rack shipments ramping in early 2027, and improved 2nm wafer supply confirm the forecast growth of 100% in 2027. Analyst inference

Evidence

• seekingalpha.com