Advanced Micro Devices Facing 'Fantastic Growth' Amid Supply Constraints, Wedbush Says

11:12 AM EST, 11/04/2026 (MT Newswires) -- Advanced Micro Devices' (AMD) expectations to double its CPU server business next year and the "accelerated trajectory" of its Helios computing platform are conflicting with the narrative that funding worries are weighing on data center projects, Wedbush said in a note Wednesday following the company's fiscal Q3 results. The investment firm added, however, that AMD's comments surrounding "component availability (rather than demand) gating shipments again highlights how tight in particular materials and commodity parts remain." AMD reported fiscal Q3 adjusted earnings late Tuesday of $2.09 per diluted share, up from $1.20 a year earlier. Analysts polled by FactSet expected $1.95. Revenue for the quarter was $13.38 billion, up from $9.25 billion a year earlier. Analysts expected $13.10 billion. The company's "clean beat" was supported by Data Center segment sales nearly doubling year on year and a "much stronger than expected outlook," Wedbush said, adding the about $17 billion Q4 guidance was also "well above" consensus estimates. Wedbush lifted the company's 2026 and 2027 EPS estimates to $8.05 and $16.63 from $7.27 and $14.75. Wedbush reiterated AMD's outperform rating and $600 price target. Price: 479.98, Change: -3.92, Percent Change: -0.81