On November 4, Goldman Sachs reaffirmed its Buy rating on Advanced Micro Devices (AMD) and maintained its $700 price target. According to Sina Finance, analyst James Schneider said AMD’s latest results and guidance were strong and could support further share-price gains. Goldman Sachs said Intel’s weak guidance had lowered market expectations for the semiconductor industry, while AMD’s strong data center business and better-than-expected gross margin performance supported its share price; the company’s operating expense outlook was broadly in line with expectations.
Goldman Sachs said investors will focus on whether AMD’s MI450 series AI chips can expand deployment at major customers as planned in the fourth quarter of 2027, and whether server CPU business growth can continue in 2027. Gross margin trends and changes in PC market demand will also affect AMD’s future earnings.