Advanced Micro Devices, Inc (AMD) stock price is surging ahead of the company’s quarterly earnings report. AMD stock closed 1.78% (8.49 points) higher on Monday, August 3, 2026. The asset climbed an additional 2.69% (13.02 points) higher in the pre-market hours. Let’s discuss if AMD can hit $550 next.
Can AMD Stock Hit $550 After Quarterly Earnings Report?
Analysts are expecting high revenue and earnings per share (EPS) in AMD’s report due later today. The company had record revenue in its last quarter and the pattern is expected to continue this time around as well.
Wall Street analysts have also become increasingly bullish on AMD. Jefferies recently raised their target to $640, while Wells Fargo and Barclays predict a price of $615 and $665, respectively.
AMD’s performance over the last year has been nothing short of stellar. The company is riding the AI wave with its chips, and the upswing is expected to sustain over the coming years. AMD is in a unique position, given that it caters to both CPU (Central Processing Unit) and GPU (Graphics Processing Unit) markets. The coming of CPU-focussed agentic AI is expected to greatly benefit AMD. Moreover, the company recently revealed a host of new chips that it claims can outperform industry leader, Nvidia.
Risks
While the AI boom has led to significant growth for AMD, there are risks that you should know about. Investors have become increasingly worried about high AI spending. Many believe that the expenses are not sustainable.
There are also concerns about supply chain issues given the ongoing war between the US and Iran. The war could lead to higher inflation, which could lead to investors moving away from tech stocks, and choosing safe havens like gold. AMD stock price could take a hit under such circumstances.