Advanced Micro Devices (AMD) and Intel (INTC) are extending gains on Wednesday morning as a new wave of upbeat analyst commentary reignited momentum across the semiconductor sector.
AMD drew renewed investor interest after Susquehanna issued a bullish call, while INTC rallied because Freedom Broker upgraded it to “buy” on rapidly improving earnings and AI infrastructure outlook.
These dual endorsements added fuel to a market that’s been aggressively repricing both companies as central beneficiaries of the next leg of AI compute demand.
Intel shares gained almost 10% on Wednesday while AMD surged 3%.
Why Susquehanna raised price target on AMD stock
Susquehanna’s latest note on AMD stock reinforces the view that the company is entering a multi-quarter acceleration phase driven by both CPUs and AI accelerators.
Analysts at the firm raised their price target to $375, arguing AMD’s server roadmap is translating into tangible, durable market share gains.
According to them, its EPYC processors continue to pick up share as Intel works through lingering supply constraints – an industry dynamic that has strengthened AMD’s pricing power and visibility heading into its May 5 earnings report.
But the heart of Susquehanna’s thesis lies in AI accelerators.
The firm highlighted the ramp of AMD’s Instinct MI350 as the primary near-term catalyst for Data Center revenue, with a more dramatic inflection expected in Q4 as hyperscalers scale deployments.
The note specifically pointed to its expanding footprint across major AI customers, including its 6 gigawatt GPU partnership with OpenAI and Oracle’s planned 50,000 GPU Helios supercluster built on Instinct MI450 GPUs and EPYC Venice CPUs.
Susquehanna’s view aligns with AMD’s broader financials.
Consensus is for the company to earn $1.06 a share in its fiscal Q1, up an exciting 36% on a year-over-year basis.
In short, a rare combination of CPU share gains, AI accelerator momentum, and a deepening pipeline of hyperscale deployments justifies AMD shares’ premium multiple heading into the quarterly print, it concluded.
Why Freedom Broker sees further upside in Intel stock
Intel’s stock price rally, one of the most dramatic large-cap moves of 2026, picked up fresh steam after Freedom Broker upgraded it to “buy”, citing a structural shift in the company’s fundamentals following its blowout Q1 earnings.
INTC’s quarterly print last week was a watershed moment.
Revenue of $13.58 billion beat expectations by 9%, while non-GAAP EPS of $0.29 crushed the Street’s penny per share estimate.
Data Center and AI segment grew 22%, and management issued a Q2 revenue guide of up to $14.8 billion – far above consensus.
Freedom Broker’s upgrade reflects a broader shift in sentiment: Intel’s turnaround isn’t theoretical.
It highlighted the company’s strengthening position in AI-driven CPU demand, where hyperscalers are increasingly treating CPUs as the orchestration layer for agentic AI workloads.
This trend has pushed the CPU-to-GPU ratio from 1:8 toward 1:4, meaningfully expanding INTC’s addressable market.
Analysts also pointed to strategic partnerships, including commitments from Google to adopt future Xeon processors and participation in Elon Musk’s Terafab project, as evidence that Intel’s foundry and CPU roadmaps are regaining industry relevance.
Despite a 130% year-to-date gain, Freedom Broker argues the market is still “underestimating” the durability of the firm’s AI infrastructure tailwinds and the earnings power of its 18A manufacturing ramp.
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