Advanced Micro Devices, Inc. (NASDAQ:AMD) is a top pick for 2026, with Wells Fargo analyst Aaron Rakers reiterating an “Overweight” rating and $345 price target. Analysts see significant upside potential driven by CPU leadership and AI GPUs, with a consensus “Buy” rating and $290 average price target.

AMD develops and sells semiconductors, processors, and GPUs for data centers, gaming, AI, and embedded applications. The company’s path to $20+/sh. EPS by calendar 2029 may become more visible this year, according to analysts on Wall Street.

While AMD is seen as a strong investment, some believe there are AI stocks with greater upside potential and less downside risk. For those interested in undervalued AI stocks, a free report on the best short-term AI stock is available.

Read more at Yahoo Finance: Why Wells Fargo Calls AMD a Top AI Pick for 2026