Advanced Micro Devices Inc (NASDAQ:AMD) shares are advancing Monday as investors position ahead of the company’s second-quarter earnings report due after Tuesday’s close.
- Advanced Micro Devices stock is showing upward movement. Why is AMD stock advancing?
AMD Gears Up for Q2 Earnings After a Strong Q1
Analysts are projecting second-quarter revenue of $11.28 billion alongside adjusted earnings of $1.61 per share when AMD steps to the podium Tuesday evening, a setup that aligns closely with the company’s own guidance of approximately $11.2 billion issued alongside first-quarter results in May.
The forecasted revenue figure would represent year-over-year expansion of roughly 46% and a sequential step up of approximately 9%, a trajectory that suggests the growth engine that powered the first quarter has continued to gain momentum.
The comparison period the company needs to top is a formidable one. First-quarter revenue of $10.3 billion advanced 38% from a year earlier while non-GAAP earnings of $1.37 per share grew 43%. The data center business carried the quarter, producing $5.8 billion in revenue, a 57% jump from the prior year, as enterprise and hyperscaler customers continued pulling forward EPYC processor orders and Instinct GPU shipments ramped to meet AI workload demand.
CEO Lisa Su had said forecasts from leading customers for the MI450 Series and Helios were already running ahead of internal projections and that a growing roster of large-scale deployment commitments was giving the company a clearer line of sight into how the second half of the year would develop.
AMD’S Chart Shows Cooling, Not Cracking
AMD remains in a longer‑term uptrend, but the near‑term chart is still working through a pullback. The stock is 5.7% below its 20‑day SMA and 6% below its 50‑day SMA, even as it sits 19.7% above the 100‑day SMA and 54% above the 200‑day SMA. That’s the classic strong‑trend‑catching‑its‑breath profile, especially with the 50‑day SMA still above the 200‑day SMA, which keeps the broader structure bullish even if short‑term traders are getting impatient.
Momentum is sending a similarly neutral message. RSI sits at 46.37, a middle‑of‑the‑road reading that shows neither panic selling nor aggressive chasing. In practical terms, RSI suggests the stock is coiled around its next catalyst, and the market is waiting for management to provide the spark.
The near‑term battleground is straightforward:
- Key resistance: $561.50
- Key support: $460.00
AMD Shares Rise Monday
AMD Price Action: AMD shares were up 0.98% at $480.71 at the time of publication on Monday, according to Benzinga Pro.
Read Also: AMD Options Price A 9% Swing On Earnings: What Does History Say?
Image: Algi Febri Sugita/Shutterstock