AMD Stock Closes at All-Time High as Market Cap Nears $1 Trillion

TLDR

• AMD stock jumped 7.7% on Tuesday, closing at an all-time high of $580.91
• Market cap hit $947 billion, making AMD the 13th largest U.S. company
• AMD passed JPMorgan and Walmart in market value
• AMD beat Q1 estimates with $1.37 EPS and $10.25 billion in revenue, up 37.8% year over year
• Nvidia CEO Jensen Huang had tipped Marvell — not AMD — as the next trillion-dollar chip stock

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Advanced Micro Devices (AMD) stock is closing in on the trillion-dollar club, and it’s doing so faster than most expected — including Nvidia’s Jensen Huang.

Advanced Micro Devices, Inc., AMD

AMD closed at $580.91 on Tuesday, an all-time high, after jumping 7.7% in a single session. That pushed its market cap to $947 billion.

The move took AMD past JPMorgan and Walmart, landing it at 13th on the list of the largest U.S. companies by market value.

It’s been a remarkable run. AMD is up 171% in 2026 alone, and the stock’s 12-month low sits at $133.50 — a long way from where it trades today.

Only three chip companies are now worth more: Nvidia at $4.7 trillion, Broadcom at $1.8 trillion, and Micron at $1.3 trillion.

That makes the trillion-dollar milestone a matter of when, not if — at least based on current momentum.

Huang’s Marvell Prediction Looks Shaky

Last month, Nvidia CEO Jensen Huang publicly suggested Marvell Technology could become the next trillion-dollar chip stock. Nvidia has an investment in Marvell, which may have had something to do with it.

At the time, Marvell had a market cap of around $200 billion. AMD was already much closer to the milestone, and Tuesday’s move made that gap even harder to ignore.

Whether Huang genuinely overlooked AMD or just didn’t want to hand its rival a headline, the numbers are doing the talking now.

The average Wall Street price target on AMD sits at $448.78 — already well below where it’s trading. Bank of America lifted its target to $560 in June, while Barclays cut to underweight around the same time. The consensus is a “Moderate Buy.”

Earnings Beat and Institutional Interest

AMD’s Q1 results gave investors plenty of reason to stay bullish. The company posted EPS of $1.37, beating estimates of $1.29. Revenue came in at $10.25 billion, ahead of the $9.90 billion forecast, and up 37.8% from the same quarter last year.

Analysts expect full-year EPS of $6.15.

Institutional holders remain firmly on board. Vanguard owns over 158 million AMD shares valued at roughly $33.9 billion. State Street and Geode Capital also added to their positions in Q4.

Perkins Capital Management did trim its AMD stake by 12.2% in Q1, bringing its holding to 15,504 shares worth about $3.15 million. AMD remains its 8th-largest position.

On the insider side, EVP Forrest Norrod sold shares at $431.40 in May, and Director Nora Denzel sold at $522.00 in early June. Both sales were made under pre-arranged Rule 10b5-1 plans.

AMD’s 50-day moving average is $456.48, and its 200-day sits at $301.41 — both well below the current price.

The stock’s PE ratio stands at 190.46, with a P/E/G ratio of 1.59 and a beta of 2.50.