Analyst Predicts AMD Shares Might Reach $750 by November

Forecasts for AMD stock turned significantly more ambitious this week. Tony Zhang, chief strategist at OptionsPlay, has set an AMD stock prediction of $750 by November—about 19% higher than the closing price of $629.26 on Thursday. His $750 price target relies on reports that the company plans a 10% price increase across its AI chips, graphics cards, and motherboard chipsets. Whether the stock can climb that high within a two-month timeframe largely depends on whether this pricing power remains intact.

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AMD Stock Prediction: $750 Target, November Outlook And Risks

The equity reached a record closing price of $615.52 on Monday, September 21, following a nearly 10% surge that pushed the chip manufacturer’s market capitalization past $1 trillion. Momentum continued as the shares advanced to close at $629.26 on Thursday, September 24, marking a 2.38% daily gain.

This upward movement gained traction after supply-chain sources indicated that AMD advised partners to anticipate roughly 10% higher prices starting in the fourth quarter for items including Radeon graphics cards, AI accelerators, and motherboard chipsets. Although AMD has not officially verified the report, it serves as the foundation for Zhang’s forecast.

How Zhang’s $750 Trade Works

To support his November outlook, Zhang is utilizing a November-expiring 600/750 call spread. By purchasing the 600 call and selling the 750 call, the strategy becomes more affordable than a standard call option, though profits are capped at $750, making that target a strict ceiling for the trade.

This approach requires a steady climb over a two-month period. Should the share price remain flat, the entire premium paid for the position could be lost.

What AMD’s Earnings Show

Underpinning these projections are robust financial metrics. During the second quarter, AMD posted a non-GAAP gross margin of 56%, improving from 43% in the prior-year period, while Data Center revenue surged 107% to reach $6.7 billion.

AMD chair and CEO Lisa Su stated:

“We delivered an excellent quarter, with record revenue and profitability as Data Center revenue more than doubled year-over-year. We enter the second half with strong momentum as EPYC demand accelerates, Instinct deployments scale and Helios begins to ramp. More broadly, AI is driving a significant expansion in demand for compute across all of our markets, and our leadership portfolio and growing customer visibility position us exceptionally well to capture this expanding opportunity and deliver substantial revenue and earnings growth in the years ahead.”

Furthermore, AMD projected third-quarter revenue of approximately $13 billion, a figure that heavily influences autumn forecasts for the stock.

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Will AMD Go Up To $750?

Optimistic market participants believe further gains are ahead. AMD has secured major commitments on a gigawatt scale, including 6 GW from OpenAI, 6 GW from Meta, and 2 GW from Anthropic. According to 24/7 Wall St., if third-quarter revenue exceeds $13 billion and margins stay close to 56%, the $750 target might eventually act more like a price floor.

However, sentiment is not universally bullish. The average analyst consensus target sits at $616.51, which is below the current market price, indicating that Wall Street broadly sees limited near-term upside. Given the stock’s beta of 2.48, elevated volatility is expected, meaning any deceleration in hyperscaler expenditure could negatively impact shares.

Ultimately, the November outlook relies on continued hyperscaler orders as the fourth quarter and early 2027 approach. If order volumes persist, Zhang’s forecast may prove conservative, whereas a slowdown would cause the spread position to expire worthless.

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