On August 4, Advanced Micro Devices fell 6.89% in after-hours trading, trading at $469.67/share, with turnover of $10.69 billion. The stock had surged over 6% during the regular session before reversing sharply post-close.

The company reported Q2 adjusted EPS of $1.66, beating the consensus estimate of $1.61 by 2.47%, representing a 245.83% year-over-year increase. Revenue came in at $11.536 billion, also surpassing the $11.284 billion estimate. Despite the headline beat, the after-hours selloff indicates that results or forward guidance failed to clear the heightened expectation bar set by the day's strong rally, which was driven by news of AMD's performance-based warrant agreements with Meta and OpenAI involving up to 6GW of Instinct GPU deployments.

Options markets had priced in approximately a 9-11% post-earnings swing, and historical patterns show AMD averaging 16.5% moves in the month following earnings releases. The stock had already more than doubled year-to-date heading into the report, with data center revenue growth of 57% in Q1 serving as the primary catalyst.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)