AMD Earnings On Watch -- Major Q3 Reveal Coming Next Week

This article first appeared on GuruFocus.

Advanced Micro Devices (NASDAQ:AMD) is preparing to report third-quarter results on Nov. 4, with Wall Street focused on momentum in its expanding AI and cloud businesses.

The chipmaker previously guided revenue to around $8.7 billion, plus or minus $300 million. That outlook implies high-20% growth from last year, supported by stronger demand across data center, gaming and PC chips. Sequential revenue is expected to improve by about 13% as new Instinct MI350 accelerators scale into customer deployments.

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Analysts expect similar numbers, revenue near $8.72 billion and earnings of $1.17 per share, both tracking close to 27% higher than a year earlier. AMD has topped earnings forecasts in each of the past four quarters.

Cloud adoption continues to trend higher. EPYC server processors have gained share with large enterprise buyers and hyperscale operators, including partners such as Oracle (ORCL), Google and other AI-focused customers. AMD also broadened its offerings for small-business computing with a new EPYC 4005 lineup.

The embedded division is also expected to return to growth, adding another revenue lift for the quarter.

AMD shares have surged nearly 119% in 2025, outperforming sector peers Intel (INTC) and Nvidia (NVDA). Investors will monitor whether growing AI infrastructure demand can keep the rally intact when results arrive Monday.

Is AMD Stock a Buy Before Earnings?AMD Earnings On Watch -- Major Q3 Reveal Coming Next Week

Based on the one year price targets offered by 42 analysts, the average target price for Advanced Micro Devices Inc is $241.16 with a high estimate of $310.00 and a low estimate of $134.20. The average target implies a downside of -5.37% from the current price of $254.84.

Based on GuruFocus estimates, the estimated GF Value for Advanced Micro Devices Inc in one year is $198.81, suggesting a downside of -21.99% from the current price of $254.84.

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