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Advanced Micro Devices Inc. (NASDAQ:AMD) shares have fallen more than 26% over the past month, and Tuesday’s third-quarter earnings will test whether data center sales are accelerating as forecast.

Faster Data Center Growth

When AMD reported second-quarter results in August, CFO Jean Hu said she expects data center sales to “accelerate in the second half of 2026.”

Data center sales rose 107% to $6.7 billion in the second quarter, while it posted a 22% rise to $4.3 billion in the third quarter of last year.

On Polymarket, traders give 79% odds that AMD’s third-quarter data center revenue tops $8 billion and 83% that it will be above $7.6 billion.

CEO Lisa Su had then said AMD entered the second half “with strong momentum” and rising demand for its EPYC chips, the processors that run servers in data centers.

Analysts Expect a Record Q3 Sales

AMD guided third-quarter revenue of about $13 billion, give or take $300 million. Analysts expect $13.10 billion, up from $9.25 billion a year ago, according to Benzinga Pro data.

That would be a record, topping the $11.54 billion reported in the second quarter, and AMD has beaten revenue estimates for 15 straight quarters.

Analysts also expect earnings of $1.89 per share, up from $1.20 a year ago.

Intel’s Warning on PC Demand and Supply Hit AMD Shares

AMD’s stock fell almost 11% in a single session last week after Intel Corp. issued a weaker fourth-quarter revenue and earnings forecast, citing soft PC demand and tight supply.

So far this year, the stock is up 117.99% and is up 82.27% over the past year, according to Yahoo Finance.

The stock hit an all-time high of $658.52 on Oct. 6 and is down about 29% since then.

Price Action: On Monday, shares closed 7.52% lower at $466.84 and were up 1.31% to $472.96 in premarket trading on Tuesday.

Benzinga Edge rankings indicate AMD’s stock has a Momentum score in the 95th percentile and a Growth score in the 95th percentile.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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