AMD stock forecast: Q2 earnings, AI 2026 roadmap
AMD designs processors and graphics chips for data centres, PCs and gaming, and outlined its latest AI roadmap at Advancing AI 2026 ahead of Q2 earnings on 4 August. Explore third-party Advanced Micro Devices targets and technicals. Past performance is not a reliable indicator of future results.
Advanced Micro Devices Inc (AMD) is trading near $549.05 in early-afternoon trading on 23 July 2026 (1:46pm UTC), having pulled back from the session’s high of $557.34 while remaining above the day’s low of $528.56 – a range of $28.78. Past performance is not a reliable indicator of future results.
The move coincides with AMD's "Advancing AI 2026" event in San Francisco, where the company outlined its AI hardware and software roadmap to developers, customers and partners (AMD, 23 July 2026). Market participants are also looking ahead to the company's Q2 2026 earnings release, confirmed for 4 August 2026 (AMD Newsroom, 8 July 2026), after AMD shares recorded gains during the first half of the year amid demand for AI infrastructure (MarketBeat, 21 July 2026). Trading activity has remained elevated as investors weigh the event's announcements against the stock's year-to-date performance (StockTitan, accessed 23 July 2026).
Third-party AMD outlook: AI roadmap shapes analyst targets
As of 23 July 2026, third-party AMD stock predictions point to a range of potential price outcomes over the next 12 months. These forecasts reflect varying expectations for AI accelerator demand, server central processing unit (CPU) market share and the company's upcoming Q2 2026 earnings.
Goldman Sachs (broker price target)
Goldman Sachs projects that AMD shares could reach $640 within 12 months, up from its previous target of $450. The firm maintained a Buy rating, with analyst James Schneider citing the potential for increased CPU demand linked to the shift towards agentic AI workloads (TheStreet, 7 July 2026).
KeyBanc (broker price target)
KeyBanc projects that AMD shares could reach $725 over the next 12 months, the highest individual target among the analysts included here. The firm cited expectations of continued growth in data-centre GPU shipments ahead of the Advancing AI event on 23 July 2026 (AllMind, accessed 23 July 2026).
Bank of America (broker price target)
Bank of America projects that AMD shares could reach $620 within the next 12 months, up from its previous target of $550. The firm maintained a Buy rating and cited server CPU pricing as one factor that could influence performance ahead of the Q2 report (MarketBeat, 13 July 2026).
Investing.com (consensus overview)
Investing.com's tracker reports an average 12-month price target of $541.66 across 47 analysts, with estimates ranging from $320 to $725. The spread reflects differing views on how AI-related demand could affect future earnings (Investing.com, 21 July 2026).
Public.com (consensus overview)
Public.com reports a 12-month consensus price target of $498.14 based on 36 analysts, alongside a Buy consensus rating. The platform notes that ratings and forecasts may change in response to upcoming earnings and industry developments (Public.com, 23 July 2026).
Predictions and third-party forecasts are inherently uncertain, as they cannot fully account for unexpected market developments. Past performance is not a reliable indicator of future results.
AMD upcoming earnings: Q2 2026 outlook
AMD confirmed that it will report its fiscal second-quarter 2026 financial results on Tuesday 4 August 2026, after the market closes. Management will hold a conference call at 5pm ET / 2pm PT to discuss the results (AMD Investor Relations, 8 July 2026).
A live webcast will be available through AMD's Investor Relations website. The scheduling announcement did not disclose earnings figures or revised financial guidance (AMD Investor Relations, 8 July 2026).
The upcoming report follows AMD's first-quarter 2026 results, published on 5 May 2026. The company reported revenue of $10.30bn, a non-GAAP gross margin of 53%, operating income of $1.50bn and diluted earnings per share of $0.84 (AMD Investor Relations, 5 May 2026).
For the second quarter, AMD forecast revenue of approximately $11.20bn, plus or minus $300m. This would represent year-on-year growth of approximately 46% at the midpoint of the range. The company also forecast a non-GAAP gross margin of approximately 56% (AMD Investor Relations, 5 May 2026).
AMD is also scheduled to present at KeyBanc's Technology Leadership Forum on 11 August 2026, Citi's 2026 Global TMT Conference on 8 September 2026 and the Goldman Sachs Communacopia + Technology Conference on 11 September 2026. Webcasts for each event will be available through AMD's Investor Relations site (AMD Investor Relations, accessed 23 July 2026).
Advanced Micro Devices stock price: technical overview
As of 1:46pm UTC on 23 July 2026, the AMD stock price trades near $549.05, above the group of moving averages referenced in this analysis. The 20-day, 50-day, 100-day and 200-day simple moving averages (SMAs) stand at approximately $534, $507, $383 and $304, respectively.
The distance between the current price and the 200-day SMA indicates the scale of the stock’s previous advance, but does not determine its future direction. The nine-period Hull moving average stands near $543, slightly below the latest price.
The 14-period relative strength index (RSI) stands at 54.09, within neutral territory and below levels commonly associated with overbought conditions. The 14-period average directional index (ADX) stands at 15.79. Technical analysts commonly interpret a reading at this level as indicating limited trend strength, although indicators can produce conflicting or inaccurate signals.
On the upside, the first resistance level (R1) derived from the classic pivot calculation stands near $631, with the second resistance level (R2) near $682. A daily close above R1 could lead some technical analysts to monitor R2, although no outcome is assured.
During a decline, the classic pivot point near $534 provides an initial technical reference. The first support level (S1) stands near $478, while the 100-day SMA lies further below at approximately $383. A move below the pivot could shift attention towards S1, but the price may not follow these calculated levels (TradingView, 23 July 2026).
This technical analysis is for informational purposes only and does not constitute financial advice or a recommendation to buy or sell any instrument.
AMD share price history (2024–2026)
AMD’s stock price experienced considerable price movements during the two years to July 2026. The stock traded at approximately $146 in late July 2024 before falling as low as $76 in early April 2025, during a period of uncertainty over tariffs. It then rose during the second half of 2025 as investors assessed demand for AI chips.
By January 2026, AMD had moved above $250 before falling to $187 in early February, following the publication of guidance alongside its Q4 2025 earnings. The shares subsequently recovered, moving above $300 by April and $400 by May before reaching an all-time closing high of approximately $580 on 30 June 2026.
Price movements continued in July. AMD fell to a low of $460 on 17 July before recovering later in the month amid attention surrounding its Advancing AI event. The stock traded near $549.05 during the afternoon of 23 July 2026. This was substantially above its level at the same point in 2025, although it remained below the closing high recorded in June 2026.
Past performance is not a reliable indicator of future results. Share prices are indicative and may differ from live market prices.
AMD (Advanced Micro Devices): Capital.com analyst view
AMD’s price performance in 2026 has included substantial gains and periods of increased volatility. The stock moved from double-digit levels in early 2025 to above $500 by mid-2026. This performance coincided with reported growth in AMD’s data-centre business, demand for AI accelerators and changes in its server CPU market share.
However, the advance also included sharp pullbacks, such as the decline following the company’s February 2026 guidance and subsequent price movements around the July 2026 Advancing AI event. These moves show how changes in expectations for AI-related spending can affect market sentiment in either direction.
Some analysts identify continued investment in AI infrastructure as a factor that could support AMD’s future financial performance. Others note that the company’s valuation reflects substantial growth expectations, meaning a slowdown in data-centre spending or increased competition could affect its share price. AMD may also respond to broader semiconductor-sector sentiment and developments involving competing chipmakers.
Summary – AMD 2026
- As of 1:46pm UTC on 23 July 2026, AMD traded near $549.05, compared with approximately $146 two years earlier.
- The technical indicators referenced in this analysis show AMD trading above its main moving averages. The 14-period RSI stands at 54.09, within neutral territory, while the 14-period ADX reading of 15.79 indicates limited trend strength under a common interpretation of the indicator.
- Factors that could affect AMD’s price include demand for AI accelerators and server CPUs, competition from other chipmakers and market expectations surrounding the company’s Q2 2026 earnings, due on 4 August 2026.
- Recent developments include the Advancing AI 2026 event, changes to analyst price targets and confirmation of AMD’s upcoming earnings schedule. These factors may influence market expectations, but they do not provide a reliable indication of future price performance.
Past performance is not a reliable indicator of future results.
FAQ
Who owns the most Advanced Micro Devices stock?
The article does not identify AMD’s largest shareholder or provide an ownership breakdown. Share ownership can also change as institutional investors adjust their holdings and companies update regulatory filings. Readers looking for the latest information should refer to AMD’s most recent shareholder disclosures, regulatory filings or investor-relations materials. These sources typically distinguish between institutional, insider and retail ownership, although reported figures may reflect different filing dates and methodologies.
What is the five-year Advanced Micro Devices share price forecast?
The article does not provide a five-year AMD share price forecast. The third-party forecasts included cover a 12-month period, with targets ranging from approximately $498 to $725. Extending projections over five years would involve greater uncertainty because AMD’s performance could be affected by AI demand, competition, product execution, valuation changes and wider market conditions. Long-term forecasts may therefore differ significantly and can’t reliably account for unforeseen developments.
Is Advanced Micro Devices a good stock to buy?
Whether AMD is suitable depends on an individual’s objectives, risk tolerance and financial circumstances. The article highlights potential drivers, including demand for AI accelerators, data-centre products and server CPUs, but also notes risks such as high growth expectations, competition and sensitivity to semiconductor-sector sentiment. Analyst targets vary widely, underlining the uncertainty. This information is for general purposes only and does not constitute financial advice or a recommendation to buy AMD shares.
Could Advanced Micro Devices stock go up or down?
Yes. AMD’s share price could move in either direction. Factors that may influence it include Q2 2026 earnings, demand for AI infrastructure, server CPU market share, product announcements and competition from other chipmakers. The article also notes that AMD has experienced substantial gains alongside sharp pullbacks. Technical indicators and analyst targets may provide context, but they can produce inaccurate or conflicting signals and do not guarantee future price movements.
Should I invest in Advanced Micro Devices stock?
The article does not make an investment recommendation. Deciding whether to invest in AMD requires consideration of your financial goals, time horizon, risk tolerance and ability to absorb losses. AMD may benefit from continued demand for AI and data-centre products, but its shares also face risks from competition, changing spending patterns and high market expectations. Independent research and, where appropriate, professional financial advice may help you assess whether the stock is suitable for you.
Can I trade Advanced Micro Devices CFDs on Capital.com?
Yes, you can trade AMD CFDs on Capital.com. Trading share CFDs lets you speculate on price movements without owning the underlying asset and to take long or short positions. However, contracts for difference (CFDs) are traded on margin, and leverage amplifies both profits and losses. You should ensure you understand how CFD trading works, assess your risk tolerance, and recognise that losses can occur quickly.