Why Is AMD Stock Gaining Thursday?

Advanced Micro Devices Inc. (NASDAQ:AMD) stock rose in Thursday’s premarket session after Bernstein raised its price forecast on the chipmaker. The move also came as investors returned to large-cap technology and semiconductor stocks. Nasdaq futures gained 1.62% while S&P 500 futures rose 0.70%.

On Wednesday, Bernstein raised its price forecast on AMD to $600 from $525, citing continued strength in the server processor market and growing demand for AI infrastructure.

Technical Analysis

AMD continues to trade in a strong long-term uptrend. The stock sits 6.1% above its 20-day simple moving average of $497.37 and 103.6% above its 200-day simple moving average of $259.27.

The technical picture remains constructive. The 20-day moving average is above the 50-day moving average, while the 50-day moving average remains above the 200-day moving average, confirming a bullish golden cross.

However, momentum has weakened. The moving average convergence divergence (MACD) indicator remains below its signal line, and the histogram is negative. That suggests buying momentum has cooled despite the stock’s elevated price.

The next test for AMD is whether it can break above recent highs or retreat toward key support before resuming its advance.

Key resistance stands at $546.50, just below the stock’s 52-week high of $558.37. Key support is at $437.00, near the 50-day moving average, where buyers previously stepped in.

Earnings And Analyst Outlook

AMD is expected to report quarterly results on Aug. 4, 2026. Wall Street expects earnings of $1.55 per share, up from 48 cents a year earlier, on revenue of $11.28 billion, compared with $7.68 billion in the prior-year period.

The stock trades at approximately 170.8 times earnings, reflecting investors’ high growth expectations.

Analysts maintain a consensus Buy rating with an average price forecast of $490.07. Recent research includes Bernstein raising its price forecast to $600 from $525, Citigroup upgrading the stock to Buy and increasing its price forecast to $575 on June 12, BofA Securities raising its price forecast to $560 on June 11 while maintaining a Buy rating, and Barclays lifting its price forecast to $665 on June 1 while reiterating its Overweight rating.

Benzinga Edge Rankings

AMD carries a Momentum score of 98.69, a Growth score of 96.90, and a Quality score of 95.58, highlighting strong business fundamentals and price performance. Its Value score of 3.12 remains weak, indicating investors continue to pay a premium for future growth.

That combination suggests AMD remains a momentum-driven stock. While the broader trend is favorable, elevated valuations could leave shares vulnerable if sentiment weakens or earnings disappoint.

ETF Exposure

AMD is a major holding in several technology-focused exchange-traded funds, including the iShares Semiconductor ETF (8.03% weighting), the ARK Next Generation Internet ETF (7.37%), and the Invesco AI and Next Gen Software ETF (6.79%).

Large inflows or outflows in these funds can create additional buying or selling pressure in AMD shares.

Price Action

AMD Stock Price Activity: Advanced Micro Devices shares were up 3.15% at $528.60 during premarket trading on Thursday, according to Benzinga Pro data.

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