Advanced Micro Devices Inc. (NASDAQ:AMD) shares are trading lower Monday as investors exercise caution ahead of the company’s first-quarter 2026 earnings report.

The stock faced downward pressure during premarket action, following a period of broader tech sector profit-taking.

Earnings Expectations Loom

The semiconductor giant is scheduled to release its first-quarter results on Tuesday. According to analyst estimates, the market anticipates earnings per share of $1.24. Revenue expectations currently sit at $9.88 billion.

Analyst Price Forecasts

On May 1, RBC Capital maintained a Sector Perform rating on AMD. However, the firm notably raised its price forecast to $325.00. The stock currently trades at a high price-to-earnings ratio of 138.1 times.

The stock carries a Buy Rating with an average price forecast of $299.38. Recent analyst moves include:

  • RBC Capital: Sector Perform (Raises forecast to $325.00) (May 1)
  • Susquehanna: Positive (Raises forecast to $375.00) (April 29)
  • Northland Capital Markets: Downgraded to Market Perform (forecast $260.00) (April 27)

Broader Market Drag

Macroeconomic factors are also weighing on the chipmaker. As of Monday morning, Nasdaq futures dropped 0.25%. Similarly, S&P 500 futures shed 0.30%.

AMD’s Key Technical Levels To Watch

AMD is holding near the top of its 52-week range of $96.45 to $362.79.

The stock is trading 25.2% above its 20-day simple moving average (SMA) and 56.6% above its 100-day SMA.

The relative strength index (RSI), a momentum gauge, is 80.03.

  • Key Resistance: $363 — near the 52-week high area where rallies have recently topped out.
  • Key Support: $285 — near the 20-day SMA zone where pullbacks may find dip-buying interest.

AMD Stock Price Activity: Advanced Micro Devices shares were down 1.44% at $355.35 during premarket trading on Monday, according to Benzinga Pro data. Over the past 12 months, the stock is up 258.43%.

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