Advanced Micro Devices Inc. (AMD) exceeded a $900 billion market capitalization on Thursday as shares surged nearly 8%, marking the third time the chipmaker crossed this threshold in less than a month. The stock hit $558.67 at 10:04 am ET, driven by continued investor optimism around AI-driven semiconductor demand. AMD had previously breached the $900 billion milestone on June 15 and reached an all-time high of $584.73 on June 30. The rally follows recent analyst upgrades from Goldman Sachs and Cantor Fitzgerald, both citing strong growth prospects in AI infrastructure. Chip stocks have benefited from heavy AI spending by cloud giants including Microsoft, Amazon, and Google, fueling a broader semiconductor sector rally.
Goldman Sachs Raises AMD Price Target to $640
Goldman Sachs raised its price target on AMD to $640 from $450 this week, while maintaining a 'Buy' rating, according to The Fly. The firm previously lifted its target from $240 to $450 in May. Goldman Sachs stated that AMD is positioned to gain market share in AI infrastructure as demand for GPUs and AI accelerators remains strong. The company's MI-series accelerators serve as an alternative to Nvidia's products, benefiting from ongoing AI spending by Microsoft, Amazon, and Google.
Cantor Fitzgerald Sets $700 Price Target for AMD
Cantor Fitzgerald raised its price target on AMD to $700 from $500 last week, reiterating an 'Overweight' rating. The firm stated that the AI infrastructure buildout will drive a multi-year semiconductor growth cycle, with industry revenue potentially exceeding $3.5 trillion by 2030. If AMD shares reach Cantor Fitzgerald's $700 target, the company's market capitalization would cross $1 trillion, assuming the number of outstanding shares remains unchanged.
Micron Crossed $1 Trillion Market Capitalization on May 26, 2026
Micron (MU) first crossed the $1 trillion market capitalization milestone on May 26, 2026. At the time of writing, Micron shares were up 7%, valuing the chipmaker at approximately $1.15 trillion. The company increased its planned U.S. investment through 2035 to $250 billion from $200 billion. Micron shares have surged 225% this year, outpacing AMD's nearly 150% gain. The Roundhill Memory ETF (DRAM) gained 141% while the iShares Semiconductor ETF (SOXX) surged 95%.
Retail Sentiment on AMD Shifts to Neutral
Retail sentiment surrounding AMD on Stocktwits turned 'neutral' from 'bearish' a day earlier. One user stated that Micron and AMD only became "market darlings" after Wall Street realized they were "foundational to the technology revolution." AMD shares have underperformed Micron's 225% rise with a nearly 150% gain so far this year.
FAQ
What did AMD's stock price reach on Thursday?
AMD stock hit a high of $558.67 at 10:04 am ET on Thursday, taking its market capitalization to $910.63 billion. The stock was up 7.5% at $556.3 at the time of writing.
What price target did Goldman Sachs set for AMD this week?
Goldman Sachs raised its price target on AMD to $640 from $450 this week, while maintaining a 'Buy' rating, according to The Fly. The firm previously lifted its target from $240 to $450 in May.
When did Micron first cross the $1 trillion market capitalization milestone?
Micron first crossed the $1 trillion market capitalization milestone on May 26, 2026. At the time of writing, its shares were up 7%, valuing the chipmaker at about $1.15 trillion.
