Analysts Reaffirm Amazon, Marvell and AMD Buys as AMD Target Jumps to $615
Updated
Updated · CNBC · Jul 12
Analysts Reaffirm Amazon, Marvell and AMD Buys as AMD Target Jumps to $615
3 articles · Updated · CNBC · Jul 12
Summary
Wells Fargo raised AMD's price target to $615 from $505 ahead of Aug. 4 earnings, citing a stronger path to more than $20 a share in 2028 earnings.
AMD's bullish case rests on AI GPU and server CPU demand: Wells Fargo lifted 2026-2028 server CPU revenue forecasts to $16.0 billion, $20.5 billion and $25.0 billion, while keeping data-center GPU estimates above consensus.
TD Cowen kept a buy on Amazon but trimmed its target to $340 from $350, expecting Q2 revenue of $200.1 billion as AWS growth accelerates to 35.5% and Prime Day shifts into the quarter.
RBC reiterated Marvell at buy with a $360 target after management meetings reinforced expectations for 40%-plus growth over the next three years, helped by AI demand, optical lead times above six months and custom revenue targeted above $10 billion by 2028.
The calls come as broader markets face Middle East tensions and doubts about AI spending durability, yet analysts still point to cloud, semis and AI infrastructure as standout growth pockets.