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Advanced Micro Devices (AMD) has been one of the most explosive tech stocks on the market. Since March, AMD stock has rallied from around $200 to a recent high of $584.73 — and it could race even higher. In fact, UBS analysts say it could rally to $670 per share, providing one of the highest price targets for AMD to date. That's all thanks to the idea that the next big phase of AI growth won’t be driven solely by graphics processing units (GPUs), but also by central processing units (CPUs) designed to support agentic AI. If UBS is right, AMD could be about to enter another substantial growth cycle.
Even better, according to the firm, the total addressable market (TAM) for server CPUs could grow from about $30 billion in 2025 to roughly $170 billion by 2030. UBS also believes that AMD’s annual server CPU revenue could jump from about $16 billion in 2026 to around $50 billion in 2030 as enterprise AI accelerates.
