Wall Street forecasts Advanced Micro Devices will report revenue of $7.53 billion for Q4, up 22% year-over-year, in-line with management guidance of $7.5 billion, plus or minus $300 million. Earnings of $1.09 per share, a 41.5% increase, are expected.

At least four analysts have lowered their ratings on the chip stock so far this year, with the latest being Ben Reitzes of Melius Research. “We should have done this 10 months ago after an epic run for AMD,” he wrote, as he moved to a hold rating from his prior buy stance.

Advanced Micro Devices shares fell to a 1-year low this week due to DeepSeek's AI chat assistant news. See why I continue to rate AMD stock a strong buy.