AMD shares surged 1.78% on Monday, August 3, 2026, to close at an undisclosed price, then rose an additional 2.69% in pre-market trading ahead of the company’s quarterly earnings report. Analysts expect high revenue and earnings per share after the company posted record revenue in its previous quarter. Several Wall Street firms have raised their price targets on the stock, with Jefferies setting a target of $640, Wells Fargo at $615, and Barclays at $665. The company is benefiting from AI-related chip demand and recently revealed new chips it claims can outperform rival Nvidia. However, risks include concerns over the sustainability of AI spending, potential supply chain disruptions due to the US-Iran conflict, and possible investor rotation away from tech stocks toward safe havens like gold.
Advanced Micro Devices, Inc (AMD) stock price is surging ahead of the company’s quarterly earnings report. AMD stock closed 1.78% (8.49 points) higher on Monday, August 3, 2026, and climbed an additional 2.69% (13.02 points) in pre-market hours.
Analysts are expecting high revenue and earnings per share in AMD’s report due later today. The company recorded record revenue in its last quarter, and the pattern is expected to continue this time.
Wall Street analysts have become increasingly bullish on AMD. Jefferies recently raised their target to $640, while Wells Fargo and Barclays predict prices of $615 and $665 respectively.
AMD’s performance over the last year has been stellar. The company is riding the AI wave with its chips, and the upswing is expected to sustain over the coming years. AMD caters to both CPU and GPU markets, and the coming of CPU-focused agentic AI is expected to greatly benefit the company. AMD recently revealed a host of new chips that it claims can outperform industry leader Nvidia.
While the AI boom has driven significant growth, risks remain. Investors have become increasingly worried about high AI spending, believing the expenses may not be sustainable. There are also concerns about supply chain issues given the ongoing war between the US and Iran. That conflict could lead to higher inflation, causing investors to move away from tech stocks and into safe havens like gold. AMD stock price could take a hit under such circumstances.
