Wolfe Research Projects Significant Upside for AMD in 2026-2027
Wolfe Research indicates strong potential for AMD to exceed consensus estimates for 2026 and 2027, driven by CPU market growth and MI450 demand. Analyst Chris Caso notes that AMD is well-positioned for substantial server business growth supported by secure wafer supplies.
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AMD is anticipated to see significant revenue growth, particularly in Q4 2026, with MI450 shipments starting in late Q3 2026. Wolfe Research estimates earnings potential of $25 to $30 per share, with key contributions from OpenAI and Meta, as well as increasing demand for agentic CPUs.
The company has raised its total addressable market (TAM) estimate for server CPUs beyond $120 billion for 2030, citing agentic inference workloads as a primary driver. Supply remains tight, but AMD can shift wafers from PC and gaming to datacenter applications if needed. The upcoming AMD analyst event in July is seen as a potential catalyst for stock movement.
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