AMD to Host Advancing AI 2026 Event on July 22; Stock Up 138.5% YTD

Ebube Jones Mon, July 20, 2026 at 12:51 PM PDT 4 min read

• AMD +8.11%

Quarterly Report by SkazovD via Shutterstock 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. As Advanced Micro Devices (AMD) prepares 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, making the timing well-suited for building more momentum. The event follows a solid Q1 2026, where revenue reached approximately $10.25 billion and grew roughly 38% year-over-year, setting a high bar.

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The main question is straightforward. With July 22 drawing near, one issue 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 designs chips that power everything from PCs to game consoles to large servers, including CPUs, GPUs, and newer AI accelerators. Based in Santa Clara, California, the company 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.

Chart Source: www.barchart.com

The shares trade at a forward price-to-earnings ratio 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. This indicates 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, delivering a positive surprise of 4.72%. Revenue for that period was approximately $10.3 billion, with sales growth at -0.17%, meaning the top line was essentially flat compared with the same quarter a year earlier. Net income came in at $1.38 billion, with net income growth of -8.47%, showing that profits remained healthy but declined year-over-year (YOY).

Operating cash flow was $2.96 billion, but operating cash flow growth fell by 61.67%, marking a significant drop from the prior year's level. Net cash flow was approximately $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 its ambitions to work. The company recently signed a "5C" deal that positions it against Nvidia Corporation (NVDA) in the AI server space, built around five core ideas: compute, connectivity, capacity, continuity, and customization. In practice, this is designed to offer large customers a complete package built on AMD CPUs and GPUs, rather than mixing different suppliers or purchasing components individually.

AMD has also brought in a new autonomous driving customer, Tokyo-based Turing, expanding its presence in automotive technology — an area where Nvidia has been dominant for years. This deal uses AMD chips inside vehicles for functions such as infotainment, driver assistance, and systems that process sensor data and help the car respond in real time.

All of this feeds directly into the narrative for July 22, when AMD hosts its Advancing AI event and has the opportunity to demonstrate how these wins fit into its broader growth strategy.

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 set high. Wall Street expects earnings of $1.35 per share for the quarter, compared with $0.27 a year ago, representing an estimated gain of approximately 400.00% YOY.