AMD Q2 Earnings: Can the AI Giant Beat High Expectations?

AMD is getting ready to share its second quarter earnings on August 4, 2026. After a massive run over the last few years, all eyes are on the chipmaker to see if it can keep the momentum going. The company has been riding a wave of interest in artificial intelligence that shows no signs of slowing down.

Looking back at the first quarter, AMD blew past expectations. They brought in over $10 billion in revenue, which was a 38% increase compared to the previous year. Their data center business was the star of the show, bringing in $5.8 billion as companies rushed to buy up hardware for their server rooms.

For this upcoming report, analysts expect another strong performance. They are predicting earnings per share of $1.34, which would be a 396.3% jump from the same time last year. Big names on Wall Street like Goldman Sachs and UBS have already raised their price targets for the stock, with some looking for prices as high as $700 per share.

One big thing to watch is the shift toward agentic AI. While current AI needs a lot of graphics power, this next phase focuses more on processor power. AMD is in a great spot because they make both types of chips. If this trend picks up, the company could see even more growth as they bridge the gap between different technical needs.