Advanced Micro Devices, Inc. (AMD) earnings on May 5, 2026
More Advanced Micro Devices, Inc. earnings
Prior outlook: Pessimistic Outcome: Missed
The stock surged strongly after reporting earnings, climbing nearly 19% and reaching a 22% high during the day.
AMD price around the earnings
421.39
Change: +18.6%
2026-05-06, 20:00 UTC
- Price: green if it ends above the starting price; red if it ends below
- Start of the measured window
- End of the measured window
- Market open
- No trading (market closed)
- Starting price
Prior thesis
Prior outlook: Pessimistic Outcome: Missed
Price too high, risk of drop into earnings.
The stock has seen a massive rally driven by AI excitement, pushing its price well above what analysts expect it to be worth. This suggests the stock might be overvalued, especially heading into earnings, and a risk for a price drop is present.
Context analyzed before publication
- Summary
- The price is high, with a risk of a pessimistic scenario into earnings.
- Reasoning
- The stock has seen a massive rally driven by AI excitement, pushing its price well above what analysts expect it to be worth. This suggests the stock might be overvalued, especially heading into earnings, creating a risk for a pessimistic scenario.
- Playbook
- Given the extreme price surge and valuations exceeding analyst targets, the scenario suggests a need for price stabilization or a pullback before considering new positions. The current price may not reflect fundamental value.
- Trend
- Expert opinion turning pessimistic, price above targets.
Analysts
Drivers
-
Analysts
Negative
The average price target set by analysts suggests the stock's current price is too high, pointing to a pessimistic scenario. One analyst firm has already downgraded their rating.
Evidence
- Analyst consensus
- Buy
- Consensus average (1-5)
- 1.61
- Analysts covering the stock
- 46
- Average price target
- 307.5
- Lowest price target
- 225
- Highest price target
- 455
- Upside to price target
- -13.7%
- Quarterly earnings growth
- 213.5%
- Revenue growth
- 34.1%
- Forward EPS
- 11.22
- Trailing EPS
- 2.6
- Analyst moves in the last 60 days
- 10
- Strong buy: 4
- Buy: 32
- Hold: 13
- Sell: 0
- Strong sell: 0
- Strong buy
- 4
- Buy
- 32
- Hold
- 13
- Sell
- 0
- Strong sell
- 0
- May 4, 2026 · HSBC: Downgrades rating (Buy → Hold)
- May 4, 2026 · Wedbush: Maintains rating (Outperform → Outperform)
- May 1, 2026 · RBC Capital: Maintains rating (Sector Perform → Sector Perform)
- April 29, 2026 · Susquehanna: Maintains rating (Positive → Positive)
- April 27, 2026 · Northland Capital Markets: Downgrades rating (Outperform → Market Perform)
- April 24, 2026 · DA Davidson: Upgrades rating (Neutral → Buy)
- April 20, 2026 · Stifel: Maintains rating (Buy → Buy)
- April 16, 2026 · Bernstein: Maintains rating (Market Perform → Market Perform)
- April 6, 2026 · Citigroup: Maintains rating (Neutral → Neutral)
- March 16, 2026 · RBC Capital: Reiterates rating (Sector Perform → Sector Perform)
News and sentiment
Drivers
-
News & sentiment
Neutral
The technology and AI sectors are generally seeing positive news. However, there are no specific major positive developments for AMD itself that justify the current price surge.
Evidence
Sentiment
- Sentiment
- Constructive
- Mention volume
- Low
- Normalized volume
- 33%
News
Sources (4)
- Stock Market Today: Dow, S&P 500, Nasdaq Futures Rise As Traders Monitor US-Iran Ceasefire— Duolingo, Pinterest, AMD In Focus (UPDATED) — Benzinga
- Jim Cramer Cites AMD Bull Case, Says 'Upside Surprise' Could Defy Wall Street Downgrades — Benzinga
- AMD Likely To Report Higher Q1 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call — Benzinga
- AMD Earnings Put Wall Street On Edge As Shay Boloor Warns AI Hype May Be Running Ahead Of Revenue, But Jim Cramer Sees Major Upside — Benzinga
Technicals
Drivers
-
Technical
Negative
The stock has experienced a very strong recent price increase and shows high relative strength. However, its current price is near a resistance level, far from its support level, indicating potential overextension.
Evidence
- Average true range (ATR)
- 5.2%
- Distance to 52-week high
- -1.8%
- 14-day change (14d)
- +28.1%
- 30-day change
- +73.5%
- 30-day relative strength
- +62.9%
- Benchmark change
- +10.6%
- Nearest support
- 192.92
- Nearest resistance
- 362.77
- Volume accumulation ratio
- 1.02
Trends
Evidence
- Average earnings surprise
- +317.3%
- February 3, 2026: actual EPS 1.53 vs estimate 1.32 (surprise +16.0%)
- November 4, 2025: actual EPS 0.75 vs estimate 0.68 (surprise +10.0%)
- August 5, 2025: actual EPS 0.54 vs estimate -0.05 (surprise +1240.2%)
- May 6, 2025: actual EPS 0.96 vs estimate 0.93 (surprise +2.8%)
Expected move
Drivers
-
Past earnings
Positive
Historically, the company has a strong track record of exceeding earnings expectations, beating estimates consistently and by a significant margin.
There is no implied-move data available for this event.
Reactions over its last 19 earnings
- Median move
- 6.5%
- 75th percentile move
- 9.2%
- 90th percentile move
- 11%
- Up / down moves
- 8 / 11
- Average up move
- +6.6%
- Average down move
- -6.6%
Monitoring and close
What Advanced Micro Devices, Inc. reported
There is no monitoring data available for this event.
Pre-market second reading after the results
There is no second reading available for this event.
How the stock reacted
- Outcome
- Missed
- Consolidated
- +18.5%
- Max favorable move (MFE)
- 5%
- Max adverse move (MAE)
- 21.7%