Advanced Micro Devices (AMD) stock reached a new all-time high of $547.26, surging nearly 7% in a single day. The rally follows two major analyst upgrades from Citi and Bank of America, which raised their price targets for the company. Investor optimism is also fueled by AMD’s recent acquisition of AI memory optimization firm Mext and the launch of its new Ryzen AI Halo platform.
Advanced Micro Devices stock surged nearly 7% to hit a record high of $547.26. This substantial gain followed a significant price target increase from Citi analyst Atif Malik, who raised his target to $575 on June 15, 2026.
Bank of America analyst Vivek Arya also recently revised his outlook, elevating his target from $500 to $560. The company’s momentum coincides with a broader industry rally for AI-focused stocks like Nvidia and Micron.
AMD’s latest upswing occurred shortly after the company acquired Mext, an innovator in AI-driven memory optimization. In its official announcement, AMD stated “MEXT has developed innovative AI-powered predictive memory technology designed to make flash behave more like DRAM.”
The company also recently revealed its Ryzen AI Halo platform, further anchoring its position in the AI boom. AMD operates as a key manufacturer in both the CPU and GPU markets, sectors seen as increasingly vital for AI development.
Additional positive sentiment may stem from a recent peace deal between the US and Iran, which has lowered oil prices and potentially reduced supply chain risks. This geopolitical development could have contributed to increased investor inflows into the market.
