Advanced Micro Devices, Inc. (AMD) earnings on August 4, 2026

After the market closes Q2 2026

More Advanced Micro Devices, Inc. earnings

Prior outlook: Pessimistic Outcome: Accurate

AMD's stock fell sharply after its earnings report, even though the numbers beat expectations. The price dropped as much as 11.78% during the day and closed down 7.66%.

AMD price around the earnings

482.05

Change: -8.2%

2026-08-05, 20:00 UTC

Start of the measured window End of the measured window
465.92 487.13 508.33 529.54 524.83
Price series around the eventClosing price per minute from before the event to the end of the measured window.No trading (market closed)
August 4, 2026 August 5, 2026
  • 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
Price series around the event

Prior thesis

Prior outlook: Pessimistic Outcome: Accurate

Thesis published
Results released

Analyst optimistic but price has collapsed -6.61% into earnings; high IV creates binary risk.

Context analyzed before publication

Trend
Scores deteriorated from -15.3 to -49.8 over 6 days — trend strength collapse accelerating.

Analysts

Evidence

Analyst consensus
Strong buy
Consensus average (1-5)
1.49
Analysts covering the stock
47
Average price target
579.11
Lowest price target
320
Highest price target
1,250
Upside to price target
9.9%
Quarterly earnings growth
95.1%
Revenue growth
37.8%
Forward EPS
13.92
Trailing EPS
3
Analyst moves in the last 60 days
10
  • Strong buy: 5
  • Buy: 36
  • Hold: 10
  • Sell: 0
  • Strong sell: 0
Strong buy
5
Buy
36
Hold
10
Sell
0
Strong sell
0
  • July 30, 2026 · Susquehanna: Maintains rating (Positive → Positive)
  • July 27, 2026 · Mizuho: Maintains rating (Outperform → Outperform)
  • July 27, 2026 · Wedbush: Maintains rating (Outperform → Outperform)
  • July 25, 2026 · UBS: Maintains rating (Buy → Buy)
  • July 25, 2026 · Jefferies: Maintains rating (Buy → Buy)
  • July 24, 2026 · Roth Capital: Maintains rating (Buy → Buy)
  • July 24, 2026 · RBC Capital: Reiterates rating (Sector Perform → Sector Perform)
  • July 24, 2026 · Cantor Fitzgerald: Reiterates rating (Overweight → Overweight)
  • July 24, 2026 · Rosenblatt: Maintains rating (Buy → Buy)
  • July 23, 2026 · Benchmark: Maintains rating (Buy → Buy)

News and sentiment

Evidence

Sentiment
Sentiment
Constructive
Mention volume
High
Normalized volume
99%
News
Sources (4)

Technicals

Evidence

Price when the context was analyzed
484
Average true range (ATR)
8.6%
Distance to 52-week high
-9.3%
14-day change (14d)
-3.9%
30-day change (32d)
-6.6%
30-day relative strength
-4.9%
QQQ change (32d)
-1.8%
Nearest support
483.06
Distance to nearest support
0.2%
Nearest resistance
491.86
Distance to nearest resistance
1.6%
Volume accumulation ratio (14d / 46d)
1.2
  • Minor: 483.06 (0.2% away, 0.02 ATR, 5 touches)
  • Minor: 476.76 (1.5% away, 0.18 ATR, 6 touches)
  • Minor: 469.15 (3.1% away, 0.36 ATR, 2 touches)
  • Minor: 491.86 (1.6% away, 0.19 ATR, 6 touches)
  • Mid: 497.59 (2.8% away, 0.33 ATR, 12 touches)
  • Mid: 502.84 (3.9% away, 0.45 ATR, 16 touches)

Trends

Evidence

Average earnings surprise
+5.9%
  • May 5, 2026: actual EPS 1.37 vs estimate 1.29 (surprise +5.8%)
  • February 3, 2026: actual EPS 1.53 vs estimate 1.32 (surprise +16.0%)
  • November 4, 2025: actual EPS 1.2 vs estimate 1.17 (surprise +2.5%)
  • August 5, 2025: actual EPS 0.48 vs estimate 0.48 (surprise -0.6%)

Expected move

Implied move
+9.5%
Source
Options chain

Reactions over its last 20 earnings

Median move
6.8%
75th percentile move
9.4%
90th percentile move
13.1%
Up / down moves
9 / 11
Average up move
+8.0%
Average down move
-6.6%

Monitoring and close

What Advanced Micro Devices, Inc. reported

Status
Finished
Actual EPS1.66
EPS estimate1.61
EPS surprise+3.1%
Revenue$11,536 million
Revenue estimate$11,284 million
Revenue surprise+2.2%

AMD beat Q2 expectations with record revenue, but shares fell 8% after earnings. Investors wanted stronger results despite AI optimism.

Sources (32)

Pre-market second reading after the results

Verdict
Beat expectations

Heading into the open, results beat expectations on both earnings and revenue, and the price is indicating -8.3% pre-market, a move in line with the stock's usual reaction (about 7%). The figures confirm the pessimistic scenario. Across our market history, in the 730 similar cases the close held that direction 96% of the time.

How the stock reacted

Outcome
Accurate
Consolidated
-7.7%
Max favorable move (MFE)
11.8%
Max adverse move (MAE)
1.5%