In a remarkable turn of events, AMD stock surged more than 12% on April 24, 2026, reaching a record high of $346. This leap was largely fueled by Intel’s robust earnings report, which showcased strong demand in the CPU market as companies ramp up their AI capabilities.
Just a day prior, AMD shares closed at $305.33. The momentum shifted dramatically after D.A. Davidson analyst Gil Luria upgraded AMD’s rating from neutral to buy, raising the price target to $375—a move that suggests a potential upside of 22% from its previous close.
Luria noted, “The CPU is reinserting itself as an indispensable foundation of the AI era.” His words resonate deeply within the semiconductor sector as both AMD and Intel position themselves at the forefront of technological advancement.
Intel’s Q1 2026 earnings revealed a non-GAAP EPS of $0.29 on revenue of $13.58 billion. This performance not only boosted Intel’s stock by over 23% but also validated the significance of x86 CPUs in AI development. Observers are keenly watching how this will impact AMD’s strategy moving forward.
AMD’s data center segment alone grew an impressive 39% year over year, generating $5.38 billion in revenue. “AMD is entering 2026 with strong momentum across our business,” said CEO Lisa Su, highlighting the company’s optimistic outlook.
The excitement surrounding AMD is palpable in tech circles. Barron’s even dubbed the situation as “the big winner of Intel earnings,” further underscoring the interconnectedness of these two industry giants.
As AMD continues to thrive amidst these developments, many wonder how long this upward trajectory can last. The semiconductor sector remains volatile, and while analysts express optimism, uncertainties linger regarding future competition and market dynamics.
For now, AMD stockholders can celebrate this milestone while keeping an eye on upcoming quarterly reports from both companies. The ongoing evolution of the CPU market—especially in relation to AI—could redefine the landscape for years to come.
