AMD Tops $900 Billion Market Capitalization Again — Can It Follow Micron To $1 Trillion Valuation?

• AMD stock had earlier breached the milestone on June 15 and also on June 30, when it hit an all-time high of $584.73.
• Earlier this week, Goldman Sachs raised its price target on AMD to $640 from $450, while maintaining a ‘Buy’ rating, according to The Fly.
• Micron first crossed the $1 trillion market capitalization milestone on May 26, 2026.

Advanced Micro Devices Inc. (AMD) grabbed investors’ attention on Thursday as its shares surged nearly 8%, lifting the chipmaker’s market capitalization back above the $900 billion mark for the third time in less than a month.

AMD stock hit a high of $558.67 at 10:04 am ET, taking its market capitalization to $910.63 billion. The stock had breached the milestone twice before, the first time on June 15, while also hitting an all-time high of $584.73 on June 30.

At the time of writing, the stock was up 7.5% at $556.3.

Wall Street Bets On AI Boom

Despite a brief pullback lately, chip stocks have generally been on a tear. AMD continues to benefit from the AI-driven semiconductor boom, with Wall Street becoming increasingly bullish on the chipmaker's growth prospects.

Earlier this week, Goldman Sachs raised its price target on AMD to $640 from $450, while maintaining a ‘Buy’ rating, according to The Fly. The move follows another major upgrade in May, when the firm lifted its target from $240 to $450.

Goldman expects AMD to gain market share in AI infrastructure as demand for GPUs and AI accelerators remains strong. The company is positioning its MI-series accelerators as an alternative to Nvidia’s products, while heavy AI spending by cloud giants such as Microsoft, Amazon, and Google continues to fuel demand.

Cantor Fitzgerald is even more optimistic, raising its target on AMD to $700 from $500 and reiterating an ‘Overweight’ rating last week. The firm believes the AI infrastructure buildout will drive a multi-year semiconductor growth cycle, with industry revenue potentially exceeding $3.5 trillion by 2030.

MU’s Footsteps To Follow

Micron (MU) first crossed the $1 trillion market capitalization milestone on May 26, 2026. At the time of writing, its shares were up 7%, valuing the chipmaker at about $1.15 trillion after it increased its planned U.S. investment through 2035 to $250 billion from $200 billion.

If AMD shares meet Cantor Fitzgerald’s target, its market capitalization would also cross $1 trillion, considering the number of outstanding shares remains the same.

What Is Retail’s Take On AMD?

Retail sentiment surrounding AMD on Stocktwits turned ‘neutral’ from ‘bearish’ a day earlier.

One user stated that MU and AMD only became “market darlings” after Wall Street realized they were “foundational to the technology revolution.”

AMD shares have surged nearly 150% so far this year, underperforming MU’s 225% rise. Meanwhile, the Roundhill Memory ETF (DRAM) gained 141% while the iShares Semiconductor ETF (SOXX) surged 95%.

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