AMD Earnings Report Sparks Market Anticipation Amid AI-Driven Chip Rally
Advanced Micro Devices (AMD) prepares to unveil its Q3 earnings after Tuesday's market close, with Wall Street bracing for potential volatility. Analysts project record revenue of $8.76 billion—a 28% year-over-year surge—fueled by robust data center performance. Options markets price in a 7% swing either way, potentially pushing shares between $238 and $274.
The chipmaker rides the AI wave that's buoyed semiconductor stocks throughout 2023, though bubble concerns linger. UBS maintains its bullish stance, reiterating a Buy rating with a $265 target, citing server segment strength. This earnings call serves as a litmus test for whether AI enthusiasm can overcome mounting sector expectations.