Advanced Micro Devices is scheduled to release third-quarter results after trading ends today, Tuesday, November 3. Analysts forecast earnings per share of $1.95. Analysts project revenue of $13.09 billion. In the previous quarter, AMD delivered adjusted earnings per share of $1.66 against a consensus forecast of $1.61. AMD's previous-quarter revenue reached $11.54 billion against analysts' consensus of $11.28 billion.
Investors will scrutinize Data Center revenue and the Helios ramp. Second-quarter Data Center revenue reached $6.72 billion, more than twice the earlier level. Analysts forecast third-quarter Data Center revenue of about $8.19 billion, an 88% increase, as initial Helios rack shipments start. AMD said Data Center AI margins would be slightly below the corporate average during the ramp. Investors will assess gross margin against AMD's guidance of about 56%.
The fourth-quarter outlook will be the main focus because AMD shares declined after each of the last two earnings releases despite results exceeding estimates. Intel's weak fourth-quarter guidance has increased attention on PC demand. Analysts expect client revenue of about $3.06 billion, unchanged from the preceding quarter. Analysts forecast a 49% decline in gaming revenue to $655 million. Investors will also monitor developments in the Meta partnership, including Helios racks already installed at Meta and AMD's $1 billion investment in Meta's equity offering.
AMD has a consensus Buy rating and an average price target of $645.14. Morgan Stanley raised AMD's target to $510.00 on November 2 with an Equal-Weight rating. Susquehanna raised AMD's target to $650.00 on October 28 with a Positive rating. Benzinga Pro data showed AMD shares trading at $486.74, up 4.26% at publication.
AMD remains in a longer-term uptrend despite retreating from October's swing high and the 52-week high reached that month. AMD trades about 17% above the 200-day simple moving average of $411.68. However, AMD trades about 14% below the 20-day simple moving average of $562.19. AMD trades about 12% below the 50-day simple moving average of $548.16. AMD trades nearly 9% below the 100-day simple moving average of $529.20. The current advance represents an attempted rebound within a weakening intermediate trend.
The MACD indicator sits below the signal line with a negative histogram, suggesting fading upward momentum unless buyers lift AMD above that baseline. The attempted rebound still requires confirmation. The 20-day simple moving average remains above the 50-day average, while the 50-day average exceeds the 200-day average, preserving a positive underlying trend structure. Regaining the area around the 100-day and 50-day averages will be important because rallies often resume or reverse there. Resistance at $491.00 could limit the rebound just above the current price. Support at $463.00 marks an area where buyers may defend the recent trading range if premarket gains fade.
Benzinga Edge gives AMD a bullish Momentum score of 95.01, indicating strong trend performance relative to the wider market. Benzinga Edge assigns AMD a bullish Quality score of 93.03, reflecting favorable profitability and business-strength measures relative to peers. Benzinga Edge gives AMD a weak Value score of 4.44, indicating expensive traditional valuations that can increase expectations for execution. Benzinga Edge assigns AMD a bullish Growth score of 95/100, reflecting strong growth factors that tend to appeal to longer-term buyers. The combination of strong Momentum, Growth and Quality scores with weak Value often works best for longer-term investors when AMD regains important moving averages. Otherwise, elevated expectations can make declines more severe.
AMD to Report Q3 Earnings, Analysts Forecast $1.95 EPS and $13.09B Revenue
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Summary
Advanced Micro Devices (AMD) is set to report Q3 earnings after the market closes on Tuesday, November 3. Analysts forecast EPS of $1.95 and revenue of $13.09 billion. Recent altcoins to watch have drawn attention, but AMD’s Data Center revenue is expected to surge 88% to $8.19 billion. Gaming revenue, however, may fall 49% to $655 million. Investors will also assess the Helios ramp and Q4 outlook. AMD shares trade at $486.74, up 4.26%. The fear and greed index remains a key barometer for market sentiment.
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