A microprocessor having a plurality of call/return stacks (CRS) correctly resolves a call or return instruction rather than issuing the instruction to execution units of the microprocessor to be resolved. The microprocessor fetches a call or return instruction and determines whether the instruction is the first call or return instruction fetched after fetching a conditional branch instruction that has yet to be resolved. The microprocessor copies the contents of a current CRS to another CRS and designates the other CRS as the current CRS, if the state exists. The microprocessor pushes the address of the next sequential instruction following the call instruction onto the current CRS and fetches an instruction at the call instruction target address if the instruction is a call instruction. The microprocessor pops a second return address from the current CRS and fetches an instruction at the second return address, if the instruction is a return instruction.