Here's What to Expect From Advanced Micro Devices' Next Earnings Report

Santa Clara, California-based Advanced Micro Devices, Inc. (AMD) is a semiconductor company that offers artificial intelligence accelerators, microprocessors, graphics processing units (GPUs), chipsets, and data center and professional GPUs, and more. Valued at a market capitalization of $893.8 billion, the company operates through Data Center, Client and Gaming, and Embedded segments.

AMD is expected to release its Q2 2026 earnings on Tuesday, Aug. 4, after the market closes. Ahead of the event, analysts expect the company’s EPS to be $1.34 on a diluted basis, up 396.3% from $0.27 in the year-ago quarter. The company has met or exceeded Wall Street’s EPS estimates in three of its last four quarters, while missing on one occasion.   

For fiscal 2026, analysts project the company’s EPS to be $6.18, up 89% from $3.27 in fiscal 2025. Moreover, its EPS is expected to rise by roughly 79.5% year over year (YoY) to $11.09 in fiscal 2027.      

AMD stock has surged 233.6% over the past 52 weeks, rallying the S&P 500 Index’s ($SPX) 20.3% rise and the State Street Technology Select Sector SPDR ETF’s (XLK) 43.5% rise during the same time frame.            

On Jul. 14, AMD stock rose 3.1% following an appraisal of its price by several Wall Street analysts. Analysts from KeyBanc, Bank of America, and TD Cowen raised their price targets, reinforcing their bullish sentiment for the stock amid strong demand for AMD's EPYC server processors and potential early shipments of its AI chips. Additionally, a cooler-than-expected inflation report supported the short-term surge of the broader semiconductor sector. 

Analysts are highly bullish on AMD, with the stock currently rated “Strong Buy” overall. Among the 46 analysts covering the stock, 35 recommend a “Strong Buy,” two suggest a “Moderate Buy,” and nine recommend a “Hold.” AMD’s average analyst price target is $91.42, indicating a marginal upside from the current levels.