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Further Reading from MarketBeat AMD Rebound Begins: It's Not Too Late to Get InWritten by Thomas Hughes. Posted: 1/20/2026. 
Key Points - Advanced Micro Device's rebound is underway; it's not too late to get in.
- Analysts and institutional activity underpin a robust outlook for stock price gains.
- The catalyst driving the move is still ahead, and analysts' growth forecasts may be too low.
Advanced Micro Devices' (NASDAQ: AMD) late-2025 sell-off appears to have found a bottom in early 2026, setting the stage for a potentially robust rebound. The roughly 15% gain in the second week of 2026 may be just the beginning of a larger move, driven by a looming catalyst—the launch of its MI450 products later in 2026. Jerome Powell says gold is not money. The Fed says inflation is under control and the dollar is strong. But look at what they do. Central banks bought more gold last year than any time since 1967. China dumped $100 billion in U.S. debt, then bought gold. Poland, Hungary, Singapore, and Turkey are all loading up. In 2022, the U.S. froze Russia's money and showed the world that assets can be seized. Now major nations want out. There's only one asset no one can freeze: gold. Get the name and ticker of one stock positioned for this shift. The MI450 launch will place AMD in direct competition with NVIDIA (NASDAQ: NVDA) for the hyperscale GPU business, a market worth hundreds of billions in revenue. Analysts and market participants are still pricing this catalyst, but it could accelerate AMD's growth well above current expectations and sustain strong growth for multiple quarters.  At present, AMD's revenue growth forecasts for early 2026 look conservative. Analysts expect about 30% growth in fiscal 2026 with modest acceleration in fiscal 2027. If those forecasts prove too low, the stock could enter a sustained bullish revision cycle. That revision cycle may already be starting—after the late-2025 reset, forecasts began to tick up in early 2026. On this view, AMD trades at roughly 60x its 2025 forecast but only about 10x its 2030 consensus, implying nearly 100% upside to reach the average S&P 500 valuation and over 200% to match blue-chip tech peers. Analyst Sentiment Trends Support AMD's Robust Upside Outlook Although analyst price target activity moderated in late 2025, the overall trend remains bullish. Early January saw two coverage initiations, producing a combined Moderate Buy rating and a $260 price target, which extended the prevailing momentum. Key takeaways: coverage has expanded (up more than 40% year-over-year in early January), the consensus Moderate Buy rating is firming, buy-side ownership sits at about 73%, and there is 20% upside at the midpoint of analyst targets with roughly 65% upside at the high end. Near-term catalysts include the Q4 earnings release scheduled for early February and the MI450 rollout later in 2026. Q4 2025 forecasts appear conservative, with mixed recent revisions and expected year-over-year growth slowing to the mid-20% range. The likely outcome is that results will outperform consensus and be reinforced by solid guidance. Reports indicate an MI450 release in the first half of 2026 followed by a rapid deployment ramp. Deals with OpenAI and Oracle (NYSE: ORCL) could generate billions in revenue, with initial realizations as soon as Q3 2026 and further ramping as production and follow-on contracts accelerate. Forecasts for GPU demand have strengthened over the past few months. RBC's mid-January update suggests the GPU market could more than double over the next 2.5 years to about $550 billion, driven by growing backlogs and improved long-term visibility. The push toward model deployment and memory-intensive inference is a major driver, with HBM4 memory (used in AMD's MI450 lineup) a critical enabler. HBM4 offers the capacity and performance required for advanced workloads; AMD's MI450 design and high-density rack configuration are expected to deliver roughly 1.5 times the memory and bandwidth of competing GPUs. Advanced Micro Devices Positioned to Retest All-Time Highs AMD's January price action has it positioned to advance about 15% and retest its all-time highs, with prevailing trends and fundamentals supporting the case for a new peak. Even if AMD remains range-bound in the near term, meaningful catalysts lie ahead, keeping the longer-term thesis intact. If the market pushes AMD to a new high in early 2026, a move toward the upper end of analyst targets is likely—potentially as high as $320 based on technical projections.
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