Advanced Micro Devices: Can a Strong Q4 Push AMD to New Highs?
Advanced Micro Devices: Can a Strong Q4 Push AMD to New Highs?
- Advanced Micro Devices reports earnings on Tuesday, February 3, after the market close.
- Analysts expect EPS to come in at $1.32 on $9.67 billion in revenue.
- Options traders see an expected move of +/- 21.98 points, or 9% of the stock price.
Advanced Micro Devices to report Q4 earnings on Tuesday, February 3
Advanced Micro Devices (AMD) will provide the market with insight into how the artificial intelligence narrative is developing at a time of renewed uncertainty around the viability of the AI trade.
AMD is off to a strong start in 2026, with the stock up about 17% for the month as of Thursday, January 29. That compares to the Nasdaq’s gain of 1.5% over the same period. The chip sector overall has put in a strong showing, with the VanEck Semiconductor ETF up about 15% through the month.
Strong growth in AMD’s data center AI segment is expected to continue to contribute to its bottom line, with solid server performance from its MI350 GPUs. AMD announced partnerships with OpenAI and Oracle recently, developments that were cheered by investors.
Chief Executive Officer Lisa Su stated that the partnerships represent “a clear step up in our growth trajectory as our expanding compute franchise and rapidly scaling data center AI business drive significant revenue and earnings growth.” Last quarter, AMD posted record revenue of $9.2 billion, representing a 36% year-over-year growth rate.
Client computing is another strong growth segment, which saw a 46% YoY growth rate last quarter, aided by its Ryzen processors. AMD also noted that the PC refresh cycle is a tailwind for the segment. Gaming is another strong performer recently, and investors will want to see that growth continue. Console cycle-related strength is expected to continue for the fourth quarter.
What do investors expect?
According to TradingView, investors expect AMD to report earnings per share (EPS) of $1.32 on $9.67 billion in revenue. That would compare to EPS of $1.09 on $7.66 billion in revenue a year ago. Last quarter, AMD posted EPS of $1.20 on $9.2 billion in revenue.
The company has a solid track record of beating EPS and revenue estimates, with the preceding four quarters surpassing analysts’ estimates. Analysts are mainly bullish on the stock, with 46 analysts holding strong buy and buy ratings and 12 hold ratings. There are 0 sell and strong sell ratings, according to TradingView.
Trading AMD earnings
The options market shows an expected move of +21.98 points for AMD earnings, which translates to a 9% expected move. If the expected move to the downside occurs, it would put prices at the early January swing high, which is a level that could provide some support. Alternatively, the expected move to the upside would push the stock into fresh all-time highs.
Currently, AMD trades with an implied volatility rank (IVR) of 39.4, meaning volatility is slightly subdued compared to the past twelve months of trading. IVR is increasing since the start of the year.
Technically, AMD remains in a strong technical position despite pulling back slightly on Thursday. Prices briefly dropped below the 9-day exponential moving average (EMA) before making an intraday recovery. The 9- and 21-day EMAs supported prices over the past two weeks of trading. The October all-time high at 267.08 is the most likely point of resistance to the upside.
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