Advanced Micro Devices (AMD) stock was on the rise Tuesday ahead of the company’s earnings report. AMD is set to release its Q1 2026 earnings after the market closes today. The chipmaker appears primed to beat Wall Street’s estimates, as rival semiconductor company Intel (INTC) easily surpassed estimates in its latest earnings results due to the rise of agentic AI.
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Even so, analyst coverage of AMD recently has been tepid. The stock was hit with a downgrade from four-star HSBC analyst Frank Lee, who dropped the shares to Hold and maintained a $340 price target, suggesting a possible 4.44% downside.
On the flip side of that, five-star Morgan Stanley analyst Joseph Moore increased his price target for AMD stock to $360 from $255, implying a possible 1.18% upside. Despite this price target increase, the analyst maintained a Hold rating for AMD stock.
Why Aren’t Analysts More Bullish on AMD Stock?
Intel may be to blame for the recent lackluster coverage of AMD. When Intel released its earnings report and posted strong CPU sales, that put a spotlight on AMD. This saw analysts flood the company with increased price targets, which also sent the stock soaring. As a result, the recent timid coverage of AMD suggests that strong earnings are already priced into the stock.
AMD stock’s massive rally over the past few weeks has put it in a peculiar position. Even if the company posts earnings above estimates today, it might not be enough of a catalyst to boost the shares higher. Additionally, investor hype means the stock could lose value even if it surpasses estimates. This could happen if CPU sales haven’t grown as much as investors’ hopes.
AMD Stock Movement Today
AMD stock was up 3.85% on Tuesday, extending a 65.61% year-to-date rally. The shares have also rocketed 246.32% higher over the past 12 months.
Trading activity today saw some 20 million shares of AMD stock change hands, compared to a three-month average daily trading volume of about 32.47 million shares.
Is AMD Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for AMD is Moderate Buy, based on 17 Buy and nine Hold ratings over the past three months. With that comes an average AMD stock price target of $308.09, representing a potential 12.99% downside for the shares.
