Will Advanced Micro Devices Q2 earnings deliver after Intel, Qualcomm disappoint?
Justin Sullivan

Advanced Micro Devices (NASDAQ:AMD) is scheduled to announce Q2 earnings results on Tuesday, August 2nd, after market close.
The consensus EPS Estimate is $1.04 (+65.1% Y/Y) and the consensus Revenue Estimate is $6.53B (+69.6% Y/Y).
The large Y/Y growth estimates are primarily due to AMD's acquisition of Xilinx, which closed in Feb. this year.
Over the last 2 years, AMD has beaten EPS estimates 100% of the time and has beaten revenue estimates 100% of the time.
Over the last 3 months, EPS estimates have seen 28 upward revisions and 1 downward. Revenue estimates have seen 27 upward revisions and 0 downward.
The numerous upward revisions for AMD's top and bottom line reflect investor confidence in the semiconductor company. The stock's Wall Street average rating and SA Authors rating is buy, while Seeking Alpha's Quant rating, which consistently beats the market, is strong buy, with high marks for growth, profitability and momentum.
Advanced Micro Devices (AMD) in May posted Q1 results that topped expectations and raised its FY guidance, sending its shares up. 
Last month, Wedbush Securities said they preferred AMD as the most likely near-term winner in the semiconductor space, beating out rivals Nvidia (NVDA) and Intel (INTC).
AMD shares are trading higher on Monday, as analysts said they were incrementally more positive on the company after INTC's disappointing results last week.
Intel (INTC) stock on Friday slumped after the chip giant reported Q2 results that missed estimates and said it would cut its near term spending plans due to weakness in the PC market.
Shares of another chip major, Qualcomm (QCOM), shed last week after the company said its Q4 results would be sharply below Wall Street's estimates.
The overall semiconductor sector has been hit hard this year, dragged down by inflation, rising interest rates and worries about the global economy. The following chart shows the YTD price return for AMD compared to NVDA, INTC, QCOM, Texas Instruments (TXN) and Broadcom (AVGO):

Read an analysis by Seeking Alpha contributor Livy Investment Research on AMD's earnings titled: Is AMD A Buy Before Upcoming Earnings? 3 Key Considerations