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Highlights

  • JPMorgan lifts AMD’s price target from USD 120.00 to USD 180.00
  • The stock’s new target implies a 10.35% upside from previous close
  • AMD reported Q2 earnings miss but saw 31.7% year-on-year revenue growth

Advanced Micro Devices (NASDAQ:AMD) received an updated price target from JPMorgan Chase & Co., which increased its 12-month projection from USD 120.00 to USD 180.00 in a report released on Wednesday. Despite the higher target, JPMorgan maintained a "neutral" rating on the stock, indicating a balanced view of AMD’s near-term performance amid mixed earnings and continued demand in core segments.

The revised price target implies a potential upside of 10.35% from AMD’s last closing price, reflecting expectations of moderate gains. The reassessment comes shortly after the company released its quarterly results on August 5th, where it reported earnings per share (EPS) of USD 0.48, falling short of consensus estimates of USD 0.54. The miss marked a decline from USD 0.69 EPS recorded during the same period last year.

However, revenue for the quarter came in at USD 7.69 billion, beating expectations of USD 7.41 billion and up 31.7% year-on-year. The growth was driven primarily by demand across AMD’s Data Center and Client segments. The company operates across four major units: Data Center, Client, Gaming, and Embedded, offering a suite of x86 microprocessors, graphics processing units (GPUs), field programmable gate arrays (FPGAs), and system-on-chip (SoC) solutions.

AMD’s net margin stood at 8.03%, and return on equity at 8.30%, metrics that analysts are monitoring closely amid macroeconomic and supply chain headwinds. Sell-side consensus projects full-year EPS at USD 3.87, signaling investor expectations for moderate earnings improvement in the second half.