Advanced Micro Devices (AMD) stock jumped on Wednesday alongside news that the semiconductor company received approval to export its MI308 artificial intelligence (AI) GPUs to China. That’s big news for the chipmaker, as China is among the top markets for AI components.
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AMD’s ability to sell its MI308 chips to China also allows it to better compete against Nvidia (NVDA) in the AI sector. This is a market that Nvidia currently dominates, but it has had trouble obtaining export licenses to sell its chips in China. It marks a win for AMD, as its MI308 GPU has been marketed as a direct competitor to Nvidia’s H20 AI GPU, which it has been unable to export to the country.
Investors will also note that AMD reported its Q3 earnings results after markets closed yesterday. The company’s adjusted earnings per share of $1.20 and revenue of $9.2 billion beat Wall Street’s estimates of $1.17 per share and $8.76 billion in revenue. It also provided Q4 2025 revenue guidance that was above the average analyst estimate.
AMD Stock Movement Today
AMD stock was up slightly on Wednesday, extending a 106.92% rally year-to-date. The shares have also increased 72.33% over the past 12 months. The company’s strong gains in 2025 are largely due to the performance of its data center sector, with the AI boom acting as the main catalyst for growth.
Is AMD Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for AMD is Moderate Buy, based on 29 Buy and 10 Hold ratings over the past three months. With that comes an average AMD stock price target of $267.41, representing a potential 7.1% upside for the shares. These ratings and price targets will likely change as more analysts update their coverage following the company’s earnings report.
