AMD will reveal its Q3 earnings report after the closing bell on Tuesday, with Wall Street analysts watching to see which direction its stock will take post-earnings. AMD is expected to report record revenue driven by its data center segment, with analysts forecasting $8.76 billion in revenue and 1.16 EPS. Analysts also anticipate a 28% year-over-year revenue increase, which could lean into AMD riding a win streak.
Options pricing suggests traders expect Advanced Micro Devices shares could move up to 7% in either direction by the end of this week. A move of that size from the stock’s recent level around $256 could push shares as high as $274. At the low end, it would leave shares around $238, where they were late last month. Additionally, Wall Street analysts have been on the bullish boat in the past week, upping price forecasts for AMD stock ahead of the report.
A flurry of big AI deals has helped spur big stock gains this year for chipmakers like AMD. However, brewing concerns about a bubble in the space and rising expectations ahead of the Q3 earnings report could add more pressure on the company.
Wall Street Ups AMD Forecast Ahead of Q3 Report
Ahead of AMD’s Q3 results, a top UBS analyst reiterated a Buy rating on the chipmaker’s stock, raising their forecast. UBS’ Timothy Arcuri reiterated a Buy rating with a price target of $265, expecting AMD’s Q3 top line to be driven by strength in both server and client CPU segments. Furthermore, Arcuri is confident about AMD’s Q3 FY25 revenue, backed by robust server and client CPU businesses. He suggests server strength will potentially drive some upside to gross margins.
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AMD is up 86% this year, one of the best returns for any hardware stock on the US market. The incoming earnings report has lofty expectations from Wall Street, and can dictate AMD stock’s price path for the remainder of 2025. At press time, the stock is down over 2%, riding a bearish wave on the market today amongst big tech.
