Dear AMD Stock Fans, Mark Your Calendars for July 22
Quarterly Report by SkazovD via Shutterstock Imagine one event that could change the way people feel about one of the most talked‑about AI stocks on the market. Now that Advanced Micro Devices (AMD) is getting ready to kick off its Advancing AI 2026 event in San Francisco on July 22, interest in its deliverables is heating…
Imagine one event that could change the way people feel about one of the most talked‑about AI stocks on the market. Now that Advanced Micro Devices (AMD) is getting ready to kick off its Advancing AI 2026 event in San Francisco on July 22, interest in its deliverables is heating up, and expectations for the stock are rising.
Bank of America has pointed to strong demand for AMD’s AI servers and hinted that the next earnings report could beat forecasts and come with higher guidance, so the timing works well for building more momentum. The event also follows a solid Q1 2026, where revenue reached about $10.25 billion and grew roughly 38% compared with last year, which means the bar is already set high.
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The main issue now is straightforward. With July 22 drawing near, one question looms large for shareholders and traders alike. Will Advancing AI 2026 simply confirm the market’s beliefs about AMD or reveal that the story is still underappreciated?
AMD’s Price and Profits Ahead of July 22
Advanced Micro Devices is a company that makes chips that power everything from PCs to game consoles to big servers, including CPUs, GPUs, and newer AI accelerators. It is based in Santa Clara, California and has a market value of $808.4 billion.
AMD’s stock has gained 138.5% so far this year and 225.3% over the past 52 weeks.
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The shares trade at a forward price-to-earnings of 66.70 times, compared with a sector median of 24.20 times, and a PEG ratio of 1.39 times versus a sector median of 0.85 times, which means the market is clearly paying more for AMD’s expected growth than it does for the average peer.
For the quarter ending March 26, AMD reported earnings per share of $1.11, slightly above the $1.06 estimate, giving a positive surprise of 4.72%. Revenue for that period was about $10.3 billion, with sales growth at -0.17%, so the top line was basically flat compared with the same quarter a year earlier. Net income came in $1.38 billion, with net income growth of -8.47%, showing that profits were still healthy but down year-over-year (YOY).
Their operating cash flow was $2.96 billion, but operating cash flow growth fell by 61.67%, which marks a big drop from the prior year’s level. Net cash flow was about $40 million, with a change of -97.71%.
Deals That Make July 22 a Must‑Watch
Advanced Micro Devices has been signing real deals that put those ambitions to work. They recently signed a 5C deal that puts it up against Nvidia Corporation (NVDA) in the AI server world, built around five simple ideas: compute, connectivity, capacity, continuity, and customization. In practice, it is meant to give big customers a full package built on AMD CPUs and GPUs, rather than mixing different suppliers or buying one piece at a time.
The company has also brought in a new autonomous driving customer, Tokyo-based Turing, adding to its presence in car tech, where Nvidia has been strong for years. This deal uses AMD chips inside the vehicle for things like infotainment, driver assistance, and systems that read sensor data and help the car respond in real time.
All of this feeds straight into the story for July 22, when AMD hosts its Advancing AI event and has a chance to show these kinds of wins fitting into its broader growth plans.
What the Street Expects From AMD
Next up for AMD is its June 2026 earnings report, due on August 4 after the market closes, and the bar is high. Wall Street is expecting earnings of $1.35 per share for the quarter, versus $0.27 a year ago, which works out to an estimated gain of about 400.00% YOY.
One of the more confident voices on the stock is James Schneider at Goldman Sachs. He still rates AMD a “Buy” and recently lifted his price target to $640 at the start of July, pointing to rising demand for powerful CPUs as more real‑world AI applications need strong compute on the server side.
Additionally, Wells Fargo’s analysts have moved their numbers up. They now see AMD reaching $615 and keep an “Overweight” rating, tying that call to stronger demand for EPYC server chips and firmer pricing in that business.
Looking at the group as a whole, AMD sits on a “Strong Buy” consensus. The average target price is $539.57, which suggests 6.4% upside from the stock’s current trading price.
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Conclusion
For AMD stock fans, the takeaway is pretty simple as July 22 really matters. The Advancing AI event should give a clearer look at how much real demand and how many solid customer relationships sit behind the big growth forecasts and the high valuation. With most estimates and targets already leaning higher, the odds favor the stock edging up rather than selling off hard if AMD simply meets what the market is looking for from this update.
On the date of publication, Ebube Jones did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com
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