Advanced Micro Devices Inc. (NASDAQ:AMD) is not just having a strong quarter. It is threatening to put up a quarter investors have not seen in more than five decades.

AMD stock is moving. See the chart and price action here. 

AMD stock is on track for its biggest quarterly gain since the first quarter of 1975, with shares up 148% so far. That kind of move would normally invite the obvious question: how much is left after a run like that?

Wall Street's answer, at least lately, has been: potentially more.

Expert Ideas 

Evercore, KeyBanc, Bernstein, Mizuho and Wells Fargo have all pointed to further upside in recent weeks, raising price targets on AMD, according to Benzinga's data. 

The common thread is the view that AMD is becoming a more direct beneficiary of the next leg of the AI buildout, where demand is spreading beyond GPUs into CPUs, networking, custom silicon and broader data center infrastructure.

Bank of America has also leaned into that setup.

A recent BofA-backed read on the chip sector argued AI spending still has "staying power," with Nvidia Corp. ...