AMD shares climb after Goldman Sachs raises its 12-month targets for both AMD and Teradyne

Shares of Advanced Micro Devices (AMD) and Teradyne (TER) rose sharply after Goldman Sachs increased its 12-month price targets on both stocks, prompting a wave of buying in early trading. According to coverage circulating via Stocktwits and TradingView, Teradyne jumped more than 8% at the open, while AMD climbed as much as 10.5% before trimming some of those gains later in the day.

The catalyst was a sell-side note in which Goldman Sachs maintained a “Buy” rating on both semiconductor names while lifting target prices. For Teradyne, the target was raised to $465 from $350, a change described as implying nearly 26% upside from the stock’s prior close. For AMD, the target was raised to $640 from $450, which was described as indicating roughly 24% upside versus the previous close.

Trading activity suggested the move landed with both Wall Street and retail investors. The same write-up said that on Stocktwits, sentiment for both TER and AMD remained “bullish,” with retail message volume characterized as “high” at the time of publication. It also cited a Stocktwits retail poll ranking AMD as the second-most favored long-term semiconductor stock among retail investors, behind Nvidia (NVDA).

By afternoon, both stocks had pared some of their early momentum. The TradingView summary indicated Teradyne was up about 3.5% and AMD was trading nearly 7% higher around the time of writing, reflecting a common pattern after analyst-target headlines: initial reaction followed by profit-taking or a wait for broader confirmation.

Beyond the immediate price action, the note reinforced the market’s focus on the semiconductor complex, where expectations about AI-related demand continue to shape sentiment. While the TradingView recap did not detail the specific fundamental drivers from Goldman’s research, it positioned the target increases as an endorsement of the companies’ longer-term growth outlook.

Goldman’s dual-target move also matters because it aligns two different points on the semiconductor supply chain and end-market exposure. Teradyne is closely associated with automated test equipment used in semiconductor manufacturing, while AMD is a major chip designer. When a brokerage raises targets across both types of companies, it can announcement that the firm sees improvement in both the equipment side and the compute side of the industry cycle.

Still, investors were not given new company-specific disclosures in the TradingView recap. There was no indication in the post that AMD or Teradyne released updated guidance or results in connection with the brokerage note. As with most target revisions, the market’s reaction largely reflected sell-side expectations rather than fresh operational information from the companies themselves.