Should You Buy AMD Stock Before Q4 Earnings?

Advanced Micro Devices (AMD) stock has been riding the AI wave with an upside of 116% in the last 52 weeks. Further, according to Holly Newman Kroft, managing director at Neuberger Berman Private Wealth, the “AI euphoria is far from finished.”

The big investments in AI will therefore continue to benefit the “Magnificent Seven tech companies” and the other participants with a product portfolio that benefits from the structural tailwinds. AMD is among the high-performance computing companies that are positioned to benefit.

Specific to AMD, Wedbush Securities is bullish ahead of the company’s earnings. Analyst Matt Bryson expects earnings to exceed Q4 estimates. In addition, Bryson expects “gross margin and profit growth through 2026.” Another potential catalyst is China starting to “green-light some AI-related shipments.” Overall, Wedbush has an “Outperform” rating and a $290 price target for AMD stock.

Headquartered in Santa Clara, Advanced Micro Devices is an innovator in high-performance computing, graphics, and visualization technologies. With a global presence, AMD operates in three segments: Data Center, Client and Gaming, and Embedded.

For Q3 2025, AMD reported 36% year-on-year (YoY) growth in revenue to $9.2 billion. This growth was driven by demand for the company’s data center AI, server, and PC business. For the same period, the company’s GAAP gross margin was robust at 52%.

Considering the strong financial performance and continued tailwinds for the industry, AMD stock has trended higher by 44% in the last six months. With AI-driven industry investments, it’s likely that robust growth will ensure that AMD stock remains in an uptrend.

The bullish view on AMD stock is underpinned by the point that the addressable market is significant. To put things into perspective, AMD believes that the compute market is likely to be worth $1 trillion by the end of the decade. With a broad portfolio of hardware, software, and solutions coupled with technology leadership, AMD is positioned for robust growth.

In November 2025, the management outlined its long-term growth targets. Over the next three to five years, AMD expects to deliver top-line growth exceeding 35% with a non-GAAP operating margin of over 35%. During this phase, the data center business is likely to be the dominant growth driver.