How Much Is AMD Stock Expected to Move After Earnings?

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Advanced Micro Devices is slated to post earnings after the closing bell Tuesday, with the chipmaker's stock seen potentially climbing to new highs following the results.

Traders expect AMD (AMD) shares could swing up to 8% in either direction by the end of the week, based on recent options pricing. A move of that size from Friday's record close just above $360 could lift shares to a new high around $389. The low end of that range could pull the shares back to $331.

AMD shares have gained nearly 70% since the start of the year, setting a number of records in the last few weeks as shares of AI hardware makers rallied amid signs of growing AI demand.

Expectations are riding high for AMD to impress after its recent stock rally, and in the wake of better-than-expected results from rivals such as Intel.

Following Intel's strong report last month, analysts from D.A. Davidson upgraded AMD to a "buy," and hiked their price target to $375 from $220. The analysts said they see "meaningful upside" to estimates for AMD, with the company and Intel both poised to benefit from rising demand for AI chips.

Analysts currently forecast that AMD will report $9.88 billion in revenue along with adjusted earnings of $1.27 per share, each up about 33% year-over-year, according to estimates collected by Visible Alpha.

Wall Street analysts largely have positive views on AMD. Six of the nine analysts with current ratings tracked by Visible Alpha consider it a "buy," compared to three neutral ratings, though the stock has already outpaced their mean target of $295 with its recent gains.

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