Advanced Micro Devices, Inc. (AMD) stock moved closer to the $500 mark on Monday as investors positioned ahead of the company’s quarterly earnings report. Shares closed 1.78% higher on August 3, 2026, after gaining 8.49 points. The stock added another 2.69% in pre-market trading, rising by 13.02 points.
Advanced Micro Devices, Inc., AMD
The gains came as traders expected stronger revenue and earnings per share. AMD posted record revenue in the previous quarter, and analysts expect the company to extend that trend. The earnings release is due later today.
Several Wall Street firms have raised their price targets for AMD. Jefferies set a target of $640, while Wells Fargo projected $615. Barclays placed its target at $665, showing broad confidence in the company’s growth outlook.
These targets sit well above the current market price. AMD would need to maintain buying support after earnings to move toward $550. Revenue growth, profit margins, and future guidance will likely shape the next move.
AMD has benefited from strong demand for chips used in artificial intelligence systems. The company sells both central processing units and graphics processing units, giving it access to two key parts of the data center market.
AMD also introduced new chips that it says can compete with products from Nvidia. Demand for agent-based AI tools may support more CPU sales, while continued data center investment could help GPU revenue.
AMD still faces several risks before it can reach $550. Investors remain concerned about the high cost of AI projects. Lower spending by large technology firms could weaken chip demand.
Supply chain pressure also remains a concern amid the conflict between the United States and Iran. Higher energy costs could lift inflation and reduce demand for growth stocks. AMD’s earnings results and guidance will determine whether the rally continues during the next few trading sessions.
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