<div id="readability-page-1">Advanced Micro Devices (NASDAQ:AMD) shares are up about 8% in Thursday's after-hours session after Intel's latest earnings report pointed to stronger-than-expected demand across key markets like data centers and AI-related workloads. Intel's commentary around improving server CPU trends and continued investment in advanced manufacturing appears to have reinforced the view that spending on high-performance computing and AI infrastructure remains intact, which is helping lift AMD alongside its peers.<h3>Claim 30% Off TipRanks</h3><ul><li>Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions </li><li> Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks </li></ul> Against that backdrop, Stifel analyst Ruben Roy, who ranks #9 out of more than 12,000 analysts on Wall Street, is staying constructive on AMD's outlook. Roy argues that the bigger story goes well beyond near-term fluctuations and into how the company is positioned over the next several years. The analyst describes the setup heading into upcoming earnings as favorable, noting that &#34;the fundamental setup heading into the print is constructive,&#34; while also emphasizing that near-term results matter less than what management communicates about longer-term execution and demand visibility. A big part of that confidence comes from AMD's roadmap around its next-generation platforms, particularly the MI450 and Helios rack-scale systems, which Roy sees as central to the company's next leg of growth. The top analyst points out that investor focus should be directed toward validation milestones and the pace at which large customers adopt these systems, especially as hyperscalers like Meta and OpenAI are expected to begin meaningful deployments in the second half of 2026. That ramp, in his view, sets the stage for a broader revenue expansion cycle that extends well into 2027. Roy also makes the case that expectations remain grounded despite the stock's strong performance this year, suggesting that valuation still leaves room for appreciation if execution unfolds as anticipated. The analyst points out that AMD's current levels can provide a &#34;floor rather than a ceiling,&#34; adding that earnings power could expand as customer engagement deepens and large-scale deployments gain traction. In that context, he sees the recent recovery in shares as an early phase rather than the end of the move. At the same time, Roy acknowledges that execution will be closely watched, especially around rack-scale deployments and the broader ecosystem required to support them. Still, his overall stance remains optimistic, with the analyst viewing AMD as well-positioned to capitalize on sustained demand for advanced compute solutions, while the latest sector-wide momentum only reinforces that longer-term thesis. (To watch Roy's track record, click here) Overall, the broader Street is leaning positive on AMD, though the upside case appears more measured at current levels. AMD claims a Moderate Buy consensus rating based on 28 analyst reviews, including 20 Buy and 8 Hold ratings, with no Sell calls. At the same time, the average 12-month price target stands at $288.58, which sits below the current share price, suggesting that while confidence in AMD's long-term positioning remains intact, expectations in the near term are more balanced following the stock's strong run. (See AMD stock forecast)</div>

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AMD shares rose 8% after Intel's earnings indicated strong demand in data centers and AI. Analyst Ruben Roy remains positive on AMD's long-term outlook, highlighting favorable conditions ahead of earnings and the importance of upcoming product launches. He believes AMD is well-positioned for growth, especially with major customers expected to adopt new systems by 2026. Despite the stock's recent performance, Roy suggests there is still room for appreciation. The consensus rating for AMD is Moderate Buy, with a 12-month price target of $288.58, indicating balanced near-term expectations.

- Advanced Micro Devices (NASDAQ:AMD) shares rose about 8% in after-hours trading following Intel's earnings report, which indicated strong demand in data centers and AI markets.  
- Stifel analyst Ruben Roy maintains a positive outlook on AMD, highlighting the importance of its future platforms like the MI450 and Helios systems for growth and emphasizing the need for successful execution and customer adoption.  
- Despite AMD's recent stock performance, the broader consensus remains cautiously optimistic, with a Moderate Buy rating and a 12-month price target of $288.58, reflecting confidence in AMD's long-term positioning while maintaining balanced near-term expectations.

Why AMD Stock Is Up Today and What Top Analyst Ruben Roy Sees Next