Morningstar raised its fair value estimate for AMD to $570 from $530 and kept a 'fairly valued' rating, while Nvidia and Intel retained 'undervalued' ratings with price targets of $570 and $85. The fair value estimates imply potential upside of around 50% for Nvidia, 40% for Intel and 18% for AMD, though AMD fell as much as 2.6% in pre-market trading. Analyst Brian Colello said AMD needs better software to challenge Nvidia's AI dominance, while Intel remains the PC CPU leader and could recapture most of the market if it improves manufacturing. Morningstar expects AMD's server CPU revenue to grow more than 100% in 2027, and its AI GPU revenue to rise from $7.4 billion in 2025 to just under $17 billion in 2026. The key risk cited is that rising memory costs could stunt PC production and demand for AMD's PC CPUs in 2027.
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Related tickers and likely impact
NVDA
▲ Likely positiveNvidia
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 11/04/2026 | 200.28 |
| Change that session | -3.10% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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