Advanced Micro Devices (NASDAQ:AMD) surged as record EPYC server CPU and Instinct GPU momentum, growing hyperscaler share and bullish Wells Fargo forecasts lifted shares and drove strong buying, even as the company approved July pay raises and August equity awards for top executives.
Previous Week Recap
- Amd Raises Executives' Base Salaries: AMD announced July 1, 2026 base salary raises for CEO Lisa Su and four executives, plus scheduled long‑term equity awards set to grant on August 15, 2026.
- Amd Leadership Records Server Revenue: AMD posted four straight quarters of record server CPU revenue led by EPYC, with growing hyperscaler share at AWS, Google Cloud and Azure; Instinct GPUs gained traction in AI training and inference.
- Wells Fargo Boosts Amd Target: Wells Fargo raised AMD price target to $615, based on 33x projected 2028 EPS. Bank forecasts server CPU revenue rising to $25B by 2028 and EPS $18.75. AMD hit intraday record near $584.73.
- Amd Shares Rally On Buy Interest: AMD shares rose after a pullback about 11% below last week’s record. Year-to-date gain is 142%. Traders note strong buying interest amid chip sector strength and peer moves.
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