Citi raises AMD price target to $800 (from $575) on Meta's Muse agentic-AI CPU demand; Mizuho hikes AMD to $705
What happened
Citi analyst Atif Malik maintained his Buy rating on AMD and raised his price target to $800 from $575 — a 39% hike implying ~27% upside from Monday's close — in a note published Tuesday, Oct 6. Malik argues Meta's Muse personal AI agent and other recently launched agentic-AI products (Dots, Instinct, GrokBot, GeminiSpark) will drive orders-of-magnitude more CPU demand than traditional chatbots, because agents operate continuously rather than idling between interactions. He projects the CPU industry will grow 60% a year on average through decade's end, becoming a $300 billion market. In the same wave, Mizuho's Vijay Rakesh reiterated outperform on AMD and raised his target to $705 from $580, citing Muse and OpenAI's Dots; he also raised price targets on buy-rated Dell (DELL), Sandisk (SNDK) and neutral-rated Super Micro (SMCI), and lifted Intel (INTC) to $114 from $92. Citi also reiterated its Buy on Nvidia ($315 target) on GPU demand uplift. AMD rose ~1.9% in premarket trading to around $643.
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Start your free 14-day trialWho’s affected
- AMD — target implies ~27% upside from Monday's close; rose 1.9% premarket to ~$643.88
- Nvidia (NVDA) — Citi reiterated Buy with $315 target on GPU demand uplift; NVDA watchlist
- Meta (META) — developer of Muse, one of AMD's largest server customers; watchlist
- Intel (INTC) — Mizuho kept neutral but raised target to $114 from $92 on the same CPU-demand logic
- Dell (DELL) — Mizuho raised its price target alongside AMD/Sandisk/Super Micro on AI-infrastructure buildout; watchlist