Why Wells Fargo Calls AMD a Top AI Pick for 2026

Group 1 - Advanced Micro Devices, Inc. (NASDAQ:AMD) is recognized as a leading beneficiary of data center compute demand and is considered a 'Top Pick' for 2026 by Wells Fargo analyst Aaron Rakers, who has an "Overweight" rating with a price target of $345.00 [1] - Rakers projects a significant upside potential of 55% for AMD, driven by its leadership in CPUs, AI GPUs, and momentum in Helios systems, with a path to over $20 per share in EPS by calendar 2029 becoming clearer this year [2] - Wall Street analysts have a consensus "Buy" rating on AMD, with an average price target of $290, indicating a 25.09% upside, while the highest target of $380 suggests a potential upside of 63.91% [3] Group 2 - AMD develops and sells semiconductors, processors, and GPUs for various applications including data centers, gaming, AI, and embedded systems [4]