Quick OverviewUBS elevated its AMD price objective to $700 from $670, keeping a Buy recommendation before next week’s “Advancing AI” showcase.Rosenblatt analyst Kevin Cassidy maintained his Buy stance while increasing his target to $665 from $490, designating AMD as his “Top Pick.”KeyBanc’s John Vinh boosted his price objective to $725 from $530, maintaining his Buy rating.UBS projects AMD could achieve $40B–$50B in GPU sales by 2027 with three major hyperscale partners secured.Wall Street consensus remains Strong Buy, while AMD shares have surged 147% this year.Advanced Micro Devices shares retreated 3.5% Wednesday amid a broader semiconductor industry downturn that pushed Micron and SanDisk down more than 8%. The decline occurred even as multiple Wall Street firms issued upgraded forecasts and higher price objectives ahead of AMD’s forthcoming “Advancing AI” presentation.Advanced Micro Devices, Inc., AMDTimothy Arcuri from UBS lifted his 12-month price objective on AMD to $700 from $670, maintaining his Buy recommendation. Arcuri cited supply chain intelligence indicating robust AI accelerator demand extending through 2027 as the primary catalyst for the revision.UBS anticipates next week’s presentation will emphasize AMD’s technology evolution rather than financial projections. The firm expects insights on the MI450X accelerator, the MI500 GPU series slated for 2027, plus developments regarding the Venice and Verano server processor platforms.Amazon appears positioned to become a significant MI450X platform adopter, per UBS analysis. The investment bank also identified Anthropic as a prospective customer, while tempering expectations for official partnership reveals during the event.UBS currently projects AMD’s 2027 revenue at $83.4 billion, revised upward from $79.2 billion, while increasing its 2027 earnings per share forecast to $14.63 from $13.47. The firm suggests AMD could reach $40B–$50B in GPU revenue by 2027 if three hyperscale clients each deploy more than one gigawatt.Additional Wall Street Analysts Support AMD Before Q2 ResultsKevin Cassidy from Rosenblatt similarly reaffirmed his Buy rating while significantly elevating his price target to $665 from $490, labeling AMD his firm’s “top long idea” approaching the August 4 Q2 earnings release.Cassidy projects AMD’s EPYC server processor will deliver north of 70% year-over-year revenue expansion with superior gross margin performance. He anticipates AMD’s Venice processor capturing high-end server market leadership as Intel’s competing Diamond Rapids chip faces postponement.John Vinh at KeyBanc added to the optimistic chorus, elevating his target to $725 from $530 while maintaining Buy. Vinh forecasts server CPU unit expansion of 15%–20% in 2026 and exceeding 50% in 2027, with AI GPU revenue reaching $16.8 billion this year and $48.5 billion next year.Vinh highlighted that AMD’s MI455 and Helios AI products remain scheduled for second-half 2026 deployment.Q2 Earnings Expectations for AMDWall Street analysts project AMD will deliver adjusted earnings per share of $1.61 for Q2 2026, representing a 235% year-over-year increase. Revenue is expected to climb 47% to $11.29 billion.The Wall Street consensus on AMD stands at Strong Buy, supported by 28 Buy recommendations and eight Hold ratings. The average analyst price target rests at $538.19, suggesting limited upside from present trading levels.AMD stock has climbed 147% year-to-date, despite Wednesday’s 3.5% decline.The post Advanced Micro Devices (AMD) Stock Slides Despite Trio of Bullish Analyst Upgrades appeared first on Blockonomi.