Advanced Micro Devices hits all-time high, up 177% year-to-date

AMD’s stock has been on an absolute tear in 2026, climbing roughly 177% year-to-date and recently touching an all-time high of $584.73. The chipmaker’s shares closed at $559.82 on September 18, up 2.70% on the day. AMD’s market capitalization now sits at approximately $914 billion. The AI engine driving AMD’s ascent The company’s data-center segment, which houses its MI-series AI accelerators and EPYC server processors, has more than doubled its revenue on a year-over-year basis. Q2 FY2026 revenue came in at $11.5 billion, a 50% jump compared to the same quarter a year earlier. Management guided Q3 revenue to $13.3 billion. Demand for its AI accelerators currently exceeds what the company can ship. AMD is reportedly planning price hikes of around 10% on select AI products. Wall Street’s vote of confidence The consensus rating sits at “Strong Buy” with an average 12-month price target of roughly $616, implying about 10% upside from current levels. Piper Sandler recently initiated coverage with an Overweight rating and a $600 target, citing the demand-exceeds-supply dynamic that has fueled AMD’s pricing power. AMD’s one-year total return is approximately 254-255%. The stock’s 52-week...