Semiconductor price targets moved in opposite directions at Susquehanna ahead of earnings season, with analyst Christopher Rolland raising his objectives for AMD and Qualcomm while lowering Intel’s.

Key Takeaways

  • Rolland raised AMD’s target to $620 from $550 and Qualcomm’s to $185 from $160.
  • Intel’s target fell to $105 from $115 as traditional semiconductor end markets remained weak.
  • AMD and Intel are shifting more wafer capacity from PCs toward servers as agentic AI demand grows.

Table of Contents

Semiconductor price targets reflect uneven demand

Sustained AI and server demand supported Susquehanna’s higher AMD target. But the firm’s broader industry assessment was mixed, with PC production falling short of earlier expectations and smartphone demand constrained by memory shortages and softer conditions in China.

Longer lead times accompany pricing uncertainty

Susquehanna said semiconductor lead times lengthened by about two weeks for a second consecutive quarter. It also described pricing as more competitive, while anticipating further price increases into the fourth quarter and 2027.

The next test is earnings season: whether server growth can offset weaker PC and handset trends. The target changes precede those results rather than establish how the companies have performed.

Conclusion

Susquehanna’s revisions underline the gap between AI-related server demand and weaker consumer chip markets, leaving upcoming earnings to show how that divide affects results.

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