NVIDIA Wins Big as AMD Suffers Post-Earnings Slump
Advanced Micro Devices (AMD) stock plummeted 6% to $486.60 Wednesday morning despite reporting a record Q2 2026 quarter. The drop was due in part to AMD's guidance of ~$13B for its Q3 earnings, which fell short of whisper numbers near $14B.
NVIDIA, on the other hand, saw its stock rise 4% to $221.33 after being named the exclusive AI chip supplier by SpaceX for its Starmind orbital compute program.
AMD's revenue in Q2 2026 was up 50% year over year (YoY) at $11.5 billion, with non-GAAP EPS of $1.66 beating consensus estimates. However, data center revenue more than doubled YoY to $6.7 billion and now represents 58% of total sales.
A number of analysts raised their price targets for AMD following the earnings report, including Wells Fargo, Jefferies, and JPMorgan, citing AI GPU growth above 100% and 35%-plus revenue targets.