AMD Stock Forecast: EPS Growth and Earnings Outlook Ahead of November 2025 Report

With a strong predicted EPS growth and an upcoming earnings report, Advanced Micro Devices (AMD) could be on track for a bullish rally. AMD is set to report its Q3 2025 earnings on Tuesday, 4 November 2025, and market analysts are closely watching the semiconductor giant’s performance amid strong investor momentum.

EPS Growth Expectations

According to 13 analysts, AMD’s earnings per share (EPS) are forecast to grow by 27.63%, from $0.76 in Q3 2024 to $0.97 in Q3 2025. This projected growth signals continued strength in AMD’s core business operations, particularly within AI hardware and data centre solutions.

However, part of this expected upside may already be priced into the stock. AMD’s share price surged 82.64% in early October following the announcement of a major AI hardware deal, which significantly boosted market sentiment. Given that the share price has outpaced EPS growth, some of the anticipated earnings momentum could already be absorbed, potentially limiting post-earnings upside.

Technical Analysis: Momentum and Market Signals

From a technical perspective, momentum indicators are showing mixed signals. The Moving Average Convergence Divergence (MACD) recently suggested that sellers currently hold more power, which may indicate that bullish momentum is weakening. Additionally, AMD has entered overbought territory several times in recent weeks, suggesting a possible bearish correction or a period of price consolidation.

Valuation and Long-Term Outlook

Looking at AMD’s fundamentals, the stock trades with a price-to-earnings (P/E) ratio of 147.42, indicating a premium valuation. However, its forward P/E of 40.75 suggests that AMD may be moving towards better value as earnings catch up with price growth.

Price targets among analysts remain widely varied. Bullish forecasts suggest a potential high of $926.56 (a 256.70% upside) while conservative estimates put lows at $401.31 (a 54.49% upside). However, the average analyst price target of $252.42 actually implies a 1.44% downside from current levels, suggesting that AMD may be overvalued in the short term.

Outlook for Traders and Investors

Traders could see bullish momentum leading up to AMD’s November earnings report, driven by positive sentiment and anticipated EPS growth. However, following the results, the valuation may appear stretched, increasing the risk of bearish momentum or a short-term price correction.

Long-term investors may want to monitor earnings consistency, AI market expansion, and valuation metrics closely to gauge whether AMD can sustain its high growth trajectory without overheating.