Goldman Sachs Semiconductor Stocks: Top 12 Picks

8. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Goldman Sachs Stake: $1,633,159,465

Number of Hedge Fund Holders: 115

Advanced Micro Devices, Inc. (NASDAQ:AMD) is among Goldman Sachs’ top semiconductor stock picks. On January 21, Bernstein raised the price target for Advanced Micro Devices, Inc. (NASDAQ:AMD) to $225 from $200 and kept a Market Perform rating. Stacy Rasgon, the analyst on record, said that AMD is pushing ahead in AI, though she noted that OpenAI is currently the only big-name customer announced for AMD’s Helios chips.

Rasgon stated that with OpenAI’s rollout of these chips set to begin later in the year, she sees reduced short-term pressure on AMD’s AI goals. This breathing room, she said, allows the market to assess the full extent of AMD’s AI potential. It also creates a period where investors might focus more on positive developments in the company’s main operations.

And amid the wait for broader AI adoption, Rasgon anticipates gains for AMD from robust server demand and increasing market share. This could serve as bright spots and help sustain investor interest in the near term, Rasgon noted.

Separately, on the same day, January 21, KeyBanc Capital Markets doubled down on its positive view of AMD. The firm reaffirmed its Overweight rating on AMD stock and held a price target of $270, citing solid momentum in server CPUs and the latest Turin generation chips.

KeyBanc stressed the strong push from big cloud providers, who are already locking in capacity for 2026. This leaves AMD’s server CPUs nearly sold out through the end of the year, the firm noted, and pointed out that this is a sign of lasting strength in this key area.

Advanced Micro Devices, Inc. (NASDAQ:AMD) is a semiconductor company. It designs and produces central processing units, graphics processing units, and adaptive system-on-chip products used in personal computers, gaming consoles, data centers, and embedded systems.