AMD Q2 Earnings Spark Mixed Analyst Reactions; Mizuho Lowers Price Target

Huo Xing Finance reports that, following AMD’s quarterly earnings release on August 6, institutional analysts generally maintained a constructive outlook, despite mixed market reactions driven by elevated expectations. The consensus among analysts is that AMD’s growth narrative around AI and data centers remains intact. Wells Fargo issued the most optimistic update, raising its price target from $615 to $700 and suggesting earnings could significantly exceed its prior estimate of $20 per share for 2029–2030. Jefferies raised its price target to $650 and maintained a Buy rating, noting that while results fell short of sky-high expectations, the long-term AI thesis continues to progress as planned. Mizuho lowered its price target from $625 to $580 but retained an Outperform rating, stating that the quarter demonstrated solid performance amid challenging conditions. JPMorgan significantly raised its price target from $385 to $550 while maintaining a Neutral rating, citing slightly below-consensus guidance for the September quarter. Overall, analysts believe AMD’s expanding AI GPU and server businesses offer substantial upside potential, with the main debate centering on whether short-term execution can keep pace with increasingly aggressive expectations.