Advanced Micro Devices (AMD) is set to announce its Q2 FY'24 results later this month. The company is expected to benefit from a growing PC market and increased demand for artificial intelligence chips. Analysts predict that AMD's revenues will reach $5. 73 billion, up 7% YoY, and its earnings per share to be around $0. 68, beating consensus estimates. The company's CPU sales are expected to remain strong due to rising PC sales, while its GPU sales are likely to expand significantly, driven by the growing demand for AI-related workloads.

AMD's stock has experienced notable gains, increasing by 65% since January 2021. However, its stock returns have varied, with a 57% increase in 2021, a 55% decrease in 2022, and a 128% increase in 2023. The uncertain macroeconomic environment could impact AMD's performance moving forward. Despite trading at a relatively high multiple, the ongoing recovery in the PC market and demand from AI applications could justify AMD's valuation.