Analysts Maintain Positive Outlook on AMD With China Demand as a Catalyst

Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the AI Stocks Investors Are Watching. On December 23, Raymond James reiterated the stock as “Outperform,” noting that it has upside following reports that Nvidia plans to resume chip shipments to China. The firm believes that Nvidia and AMD could both see moderate upside from US export approvals.

“In the wake of recent news regarding potential resumption of GPU sales to China, we take the opportunity to assess the potential upside for AMD and NVIDIA. Several moving pieces remain, making it difficult to assess the exact outcome, but in an optimistic scenario, we estimate AMD could see ~$500-800M of revenue upside and ~$0.10-0.20 of non-GAAP EPS upside, and NVDA could see ~$7-12.5B of revenue upside, which translates to ~$0.15-0.30 of non-GAAP EPS upside in 2026.”

US President Donald Trump has recently approved the sale of Nvidia’s H200 GPUs to China, albeit only to “approved customers.”

Analysts on Wall Street currently have a consensus “Buy” rating on the stock. The average price target of $289.00 implies a 34.87% upside; however, the Street-high target of $380 implies an upside of 77.34%.

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