Was Advanced Micro Devices (AMD) One of the Top “Blue Chip” Stocks Suddenly on Fire in April?

Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the top “blue chip” stocks that were suddenly on fire in April. KeyBanc lifted the price target on Advanced Micro Devices, Inc. (NASDAQ:AMD) to $530 from $330 on May 7, reaffirming an Overweight rating on the shares. The firm stated that the company posted solid fiscal Q1 results and Q2 guidance, which surpassed expectations. The quarter was primarily driven by client and data center to a lesser extent, while fiscal Q2 upside is primarily attributed to server CPU, which grew 50% year-over-year in Q1 and is expected 70% year-over-year in Q2. The firm is thus encouraged by these positive results and raised estimates.

Advanced Micro Devices, Inc. (NASDAQ:AMD) released its fiscal Q1 2026 results on May 5, reporting revenue of $10.3 billion, net income of $1.4 billion, gross margin of 53%, operating income of $1.5 billion, and diluted earnings per share of $0.84. Gross margin on a non-GAAP basis was 55%, while operating income was $2.5 billion, with net income of $2.3 billion and diluted earnings per share of $1.37.

Advanced Micro Devices, Inc. (NASDAQ:AMD) is a global semiconductor company focused on high-performance computing, visualization technologies, and graphics.

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