AMD stock continues to show bullish momentum following the expansion of its partnership with Microsoft and the start of Advancing AI 2026. Holding above $530 could open the way toward $560, although Alphabet's earnings report later today may significantly increase volatility.
Recent optimism surrounding AMD has been driven by its expanded partnership with Microsoft. Azure plans to deploy AMD's Helios platform, EPYC Venice processors, and Pensando networking solutions at scale. Deliveries of Helios systems for Microsoft are expected to begin in the second half of 2026.
Advancing AI 2026 begins today, with CEO Lisa Su's keynote scheduled for July 23. Investors will be looking for updates on Helios, next-generation AI accelerators, the ROCm software platform, and potential new customers.
Another key source of volatility will be Alphabet's earnings report, due after today's market close. For AMD, investors will pay particular attention to Google Cloud's performance and Alphabet's capital expenditure plans. Continued heavy investment in AI infrastructure would support the semiconductor sector, while more cautious guidance could trigger profit-taking.
Bullish momentum depends on $530 support
The bullish scenario outlined in the previous analysis has fully played out. AMD reclaimed $500, broke above the target resistance at $526, and closed the latest session at $544.43.
The key level to watch today is $530, where the short-term ascending trendline is currently located. If the regular trading session opens above this level and buyers successfully defend it, the rally could extend toward the next resistance near $560.
However, if AMD opens below $530 and fails to reclaim the level quickly, bullish momentum would weaken. In that case, the probability of a pullback toward the 50-day simple moving average (SMA) near $504 would increase.
AMD faces higher volatility amid earnings season
With earnings season in full swing, volatility across the technology sector is likely to remain elevated. The risk of a sell-the-news reaction remains significant, making disciplined risk and money management especially important for short-term traders.
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