AMD Earnings: Analysts Upbeat Ahead Today’s Q2 Report

Advanced Micro Devices (NASDAQ:AMD) will report Q2 financials after the market closes on Tuesday, August 1. Wall Street analysts are upbeat about AMD stock ahead of the Q2 print. The chip company is one of the key beneficiaries of the evolution of AI (Artificial Intelligence). In addition, analysts believe that inventory-led issues will subside in 2H (the second half of 2023), driving its financials and stock price. 

AMD stock has risen over 74% year-to-date, outperforming the broader markets by a wide margin. While analysts remain upbeat, their earnings estimate suggests a significant year-over-year decline. Let’s delve into analysts’ estimates for Q2.