Advanced Micro Devices (AMD) stock continued to rally on Thursday as investors and analysts anxiously await the semiconductor company’s Q1 2026 earnings report next week. Excitement about this earnings report has caused AMD stock to increase 3.65% today, building on a 63.25% year-to-date gain. The shares have also climbed 248.79% higher over the past 12 months.
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Trade NVDA with leverageAMD stock was up today despite muted trading volume. As of this writing, roughly 24 million shares have changed hands. This is still below the company’s three-month average daily trading volume of about 32.47 million shares.
What to Expect From AMD’s Earnings Report
Analysts and investors have high hopes for AMD. Specifically, they’re looking for increased CPU sales in the Q1 earnings report. This is due to earnings results from rival chipmaker Intel (INTC), which saw a massive increase in CPU shipments due to the rise of agentic AI. The demand for CPUs has increased as agentic AI relies on those chips more than generative AI, which is largely tied to GPUs.
Of course, investors will also keep an eye on AMD’s GPU performance. Just because the demand for agentic AI is up, that doesn’t mean demand for generative AI has faltered. With that in mind, it will be interesting to see how AMD performs in GPU sales when compared to rival Nvidia (NVDA), which dominates the GPU market.
When it comes to major figures, Wall Street expects AMD to report adjusted earnings per share of $1.28 alongside revenue of $9.88 billion. The company’s earnings history suggests it will surpass these estimates.
Is AMD Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for AMD is Moderate Buy, based on 19 Buy and nine Hold ratings over the past three months. With that comes an average AMD price target of $296.24, representing a potential 15.28% downside for the shares.
