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KEY TAKEAWAYS
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Traders expect AMD shares to move about 7% in either direction after its next earnings, due this afternoon.
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Wall Street expects $13.1 billion in revenue and $2.4 billion in net income from the tech giant.
Today's tech-stock earnings headliner is rising ahead of its results.
Shares of chip designer Advanced Micro Devices (AMD) were up about 5% recently to near $490, climbing on a day when tech shares were holding up after some rough recent sessions. The Roundhill Memory ETF (DRAM) was up more than 2%, as was the iShares Semiconductor ETF (SOXX). Nvidia (NVDA), the only Magnificent Seven company yet to report results, was about 3% higher.
AMD shares have more than doubled this year through Monday's close. Investors expect a move of about 7% in either direction in the coming days, according to an Investopedia calculation based on yesterday's close under $467 and recent options pricing data. That could take the shares above $502, or below $432.
Wall Street is looking for revenue of $13.1 billion and net income of $2.4 billion, according to Visible Alpha data.
AMD will be participating in two conferences before the end of the year, the company has said, with scheduled appearances from management at events on Dec. 1 and Dec. 9.
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