Advanced Micro Devices (AMD) stock was down again on Tuesday as concerns about AI spending have weighed down the sector. This followed news that ChatGPT maker OpenAI failed to hit its own revenue and user growth expectations.
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Considering OpenAI is a major player in the AI space, and has agreements with AMD to supply it with components for data centers, it makes sense that news of internal revenue and user growth misses would rattle AMD stock and the broader market. This could be a sign that CPU and GPU sales won’t remain elevated by the AI boom for as long as analysts have predicted.
Investors will get more updates on AMD in the near future. The company is set to report its Q1 earnings results after markets close on May 05, 2026. Wall Street expects adjusted earnings per share of $1.28 alongside revenue of $9.87 billion. AMD’s earnings history over the past eight quarters suggests it will surpass Wall Street’s estimates.
AMD Stock Movement Today
AMD stock was down 3.72% on Tuesday but was still up 50.44% year-to-date. The stock has also rallied 248.36% over the past 12 months.
AMD stock trading activity today saw some 29 million shares 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 19 Buy and eight Hold ratings over the past three months. With that comes an average AMD stock price target of $295.04, representing a potential 8.34% downside for the shares.
