Wells Fargo raises AMD price target to $615 on server CPU demand

Wells Fargo analyst Aaron Rakers raised his AMD price target to $615 on Tuesday, June 30, 2026, citing rising demand for server CPUs as the AI race shifts from training toward inference. The new target implies about 10% upside from the share price that day. The stock was up about 3.5% by 10:30 a.m. ET, so the note added to the momentum into quarter-end.

• New price target: $615 (implies about 10% upside)
• Thesis: stronger demand for server CPUs as AI shifts to inference
• Stock up about 3.5% through 10:30 a.m. ET that Tuesday