Earnings Preview: What to Expect From Advanced Micro Devices' Report

Advanced Micro Devices (AMD.OQ) reports fiscal Q1 2026 results after the close on May 5. Analysts expect $1.04 EPS (up 33.3% YoY) and full-year EPS of $5.75 (up 75.8%), with 2027 EPS seen at $9.11. AMD has outpaced the S&P 500 and the XLK ETF over the past year, rising ~170%, and analysts are broadly bullish (31 of 45 rate it Strong Buy) with an average price target of $287.39 (~12.7% upside). The company’s growth thesis is driven by accelerating AI demand — increasing hyperscaler deployments, partnerships with OpenAI and Meta, and new CPU/GPU products — which could make the upcoming print a catalyst for further upside if results and guidance confirm the AI-driven revenue trajectory.