Apr 28, 2026, 3:06 AM ETAdvanced Micro Devices, Inc. (AMD) Stock, AMD:CA Stock, ZAMD:CA StockKennedy Njagi2K FollowersCommentsSummaryI am reiterating Advanced Micro Devices with a Buy rating because AI demand is no longer a narrow training story. It is widening into inference, agentic, and sovereign AI.Growth over the next 12 months should be driven by record data center momentum and stronger than expected EPYC CPU demand and visible production pipelines across META, ORCL and NTNX.AMD is trading at a discount forward non-GAAP PEG of 1x vs. the sector median of 1.45x. My price target sits at $406 based on a 35x forward P/E multiple.Key risks are software execution, supply, and power bottlenecks.Marvin Samuel Tolentino Pineda/iStock Editorial via Getty ImagesInvestment ThesisThe first time I took a look at Advanced Micro Devices, Inc. (AMD), I wrote that AMD was the rook in the AI infrastructure board. I still believeThis article was written byKennedy Njagi2K FollowersKennedy is a GARP-themed hedge fund manager with a bias towards companies with aggressive growth prospects, en route to becoming highly profitable in 1-2 years.His investment philosophy emphasizes long-term discipline, consistent alpha, and a pinch of salt (risk).He writes to empower the underprivileged and improve financial literacy.The Curious Analyst is an associate of Kennedy NjagiAnalyst’s Disclosure: I/we have a beneficial long position in the shares of AMD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.Comments