Is an AMD Stock Split Coming Now That the Shares Have Topped $600?

Key Points

• AMD stock closed at a record $615.52 on Monday, Sept. 21, and the company is now worth more than $1 trillion.

• AMD has split its stock six times, most recently a 2-for-1 split in August 2000.

• A split would divide the share price and multiply the share count, leaving profits, ownership stakes, and the stock’s valuation unchanged.

• 10 stocks we like better than Advanced Micro Devices ›

Advanced Micro Devices (NASDAQ:AMD) stock closed at $615.52 on Monday, Sept. 21 — a record, and the chipmaker’s first close above the $600 mark. Monday’s nearly 10% surge also made AMD a trillion-dollar company for the first time. And the run isn’t cooling. Shares traded near $621 as of this writing, up 187% in 2026 through Monday’s close.

AMD has split its stock six times in its history, but not once since 2000. So, now that the shares carry a $600 price tag, is a seventh split on the way?

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Six splits, none since 2000

AMD lists its split history on its investor relations site. The record shows three 3-for-2 splits and two 2-for-1 splits between 1978 and 1983, and then one last 2-for-1 split in August 2000.

Those six splits compound to a factor of 27. In other words, every share bought before the first split in 1978 has become 27 shares today. And had AMD never split at all, a single share would now go for about $16,800.

Since 2000, the company hasn’t announced another split, and I can’t find any public comment from management even entertaining the idea.

That silence has held through an extraordinary stretch. Since Lisa Su became CEO in October 2014, the stock has climbed from about $3 to more than $600 (a nearly 190-fold gain), and the board never split the shares once along the way.

Earnings put the stock above $600

AMD’s $600 share price reflects a business being repriced, not a shrinking supply of shares. The company reported about 1.63 billion shares outstanding at the end of June. That count is essentially where it started the year, while the stock’s price has nearly tripled.

Not only did AMD’s second-quarter revenue rise 50% year over year to a record $11.5 billion, but earnings per share also reached $1.38, up from $0.54 a year earlier. The data center segment drove the growth. Segment revenue climbed 107% from the year-ago quarter, hitting $6.7 billion on demand for the company’s EPYC server chips and its Instinct line of artificial intelligence (AI) accelerators.

“AI is driving a significant expansion in demand for compute across all of our markets,” AMD chair and CEO Lisa Su said in the August release announcing those results.

For the third quarter, management guided to about $13 billion of revenue, up about 41% year over year. The growth rate is easing from the second quarter’s 50%, but the dollar amounts keep stepping up — from $9.2 billion in the same quarter last year to $11.5 billion last quarter to roughly $13 billion guided for the current one.

The $600 price itself is also brand-new. The stock gained about 25% over five straight winning sessions through Monday. Of course, boards arguably respond to where a share price settles over months, not to a level it first crossed yesterday.

What would a split change?

A split would change very little that matters. It divides the same company into more shares.

Multiply the count by five, for example, and the price falls to about a fifth, while every investor keeps the same percentage stake in the same business. Revenue and profits don’t move, and neither does the company’s $1 trillion market value.

The stock’s valuation wouldn’t budge, either. Earnings per share would be divided right along with the price, so a share would cost about 40 times the company’s expected 2027 earnings the morning after a split, exactly as it does today.

The one thing a split could change is appearances. After all, a $124 share might feel cheaper than a $620 one. It wouldn’t be: the slice of the company behind each share shrinks by just as much.

So, is a split coming? I don’t see a reason to expect one. Management hasn’t raised the idea, and the $600 price tag is one day old. A seventh split may come someday. But nothing on the record points that way.

What I’d focus on instead is the price. Today’s buyer is paying about 40 times what AMD is expected to earn in 2027, and those expectations already have profits roughly doubling next year. Sure, the growth today is exceptional, and it could stay that way for a while. But I think a lot has to keep going right to grow into that price. For now, I’d opt to stay on the sidelines — split or no split.

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Daniel Sparks and his clients do not have positions in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices. The Motley Fool has a disclosure policy.