AMD Stock Pre-Market Today (Nov. 14, 2025): What to Know Before the US Market Opens

Key Takeaways Before the Bell

• AMD is trading lower in pre-market: Early Friday trading indicates AMD around $242.5, roughly 2.2% belowThursday’s close of $247.96, with pre-market volume around 266,600 shares.  ^[1]
• Tech and chip stocks are under pressure after a hawkish shift from the Federal Reserve cut the odds of a December rate cut and reignited worries about stretched AI valuations; U.S. futures are pointing lower and chipmakers including AMD are down 0.4–0.9% pre-market.  ^[2]
• Fundamentals remain strong: AMD reported record Q3 2025 revenue of $9.2 billion, up 36% year over year, with non‑GAAP EPS of $1.20 (above expectations) and guided Q4 revenue to about $9.6 billion.  ^[3]
• Analyst Day reset expectations higher: At its Financial Analyst Day on Nov. 11, AMD laid out an aggressive plan to lead a $1 trillion compute market, targeting >35% revenue CAGR, >35% non‑GAAP operating margin, and >$20 in non‑GAAP EPS over the next three to five years, plus very fast growth in data center and AI revenue.  ^[4]
• Positioning is mixed: Cathie Wood’s ARK Invest just sold about 87,000 AMD shares (~$22.5M) to take profits after the post–Analyst Day rally, while Impax Asset Management boosted its AMD stake by 59% and overall institutional ownership sits above 70%.  ^[5]
• Options and sentiment point to volatility: Recent flows show unusually heavy put-option activity in near-dated AMD contracts around the $252.50 strike, suggesting hedging or short‑term downside bets as traders navigate the macro and AI‑valuation debate.  ^[6]

This article is for information and news purposes only and is not financial advice or a recommendation to buy or sell any security.

AMD Stock Pre-Market Today: Price, Move and Valuation

As of early U.S. pre-market trading on Friday, November 14, 2025, AMD’s last indicated pre-market price is about $242.51, down roughly $5.45 (-2.2%) from Thursday’s close of $247.96. Pre-market volume is reported around 266,600 shares, which is meaningful but still far below regular-session turnover.  ^[7]

Thursday’s regular session already saw a sharp move: AMD finished at $247.96, about 4.2% lower on the day as part of a broader tech selloff, and roughly 10% off its recent highs after a big run earlier in the week following its Analyst Day.  ^[8]

On basic valuation metrics:

• Market cap: ~$404 billion
• Trailing EPS: about $1.91, implying a P/E near 140x
• P/E-to-growth (PEG) ratio: around 2.4
• 52‑week range: roughly $76.5 to $267.1, putting today’s pre‑market price close to the upper end of its one‑year trading band.  ^[9]

This combination—lofty valuation near the top of its range, but backed by rapid AI‑driven growth—is exactly what’s being repriced this morning as markets step back from the most crowded tech trades.

Why AMD Is Under Pressure This Morning: Macro and Sector Headwinds

1. Fed rhetoric and rate-cut hopes

Overnight and into Friday morning, U.S. stock index futures turned lower after multiple Federal Reserve officials signaled caution about further easing, sharply reducing the market’s perceived odds of a December rate cut to about 50% from roughly two‑thirds a week ago.  ^[10]

Key points from the macro backdrop:

• Dow, S&P 500 and Nasdaq futures are all in the red, with the tech‑heavy Nasdaq 100 futures down around 0.4–0.5% early Friday.  ^[11]
• The longest U.S. government shutdown on record just ended, leaving a “data drought” as missing economic releases make it harder for the Fed and investors to judge the trajectory of inflation and the labor market.  ^[12]
• With uncertainty up, the VIX volatility index ticked higher, and markets are more sensitive to anything perceived as “expensive” or speculative—AI leaders like AMD squarely included.  ^[13]

That backdrop tends to hit high‑multiple growth stocks first, so AMD is feeling the pinch in pre‑market trading even though its company‑specific story hasn’t changed since Tuesday’s Analyst Day.

2. Chip sector pressure: Applied Materials and AI valuation worries

The chip space broadly is weaker ahead of the open:

• Applied Materials warned of weaker spending from China next year due to tighter U.S. export controls, sending its shares down almost 5% in pre‑market trading.  ^[14]
• Reuters reports other chipmakers including Nvidia, Broadcom, Intel and AMD are down roughly 0.4–0.9% pre-market, riding the same macro and sector wave.  ^[15]

At the same time, another Reuters piece highlights that investors are increasingly skittish about a possible “AI bubble”, with Nvidia’s upcoming earnings seen as a crucial test not just for NVDA but for high‑flying AI beneficiaries like AMD.  ^[16]

In short, nothing “broke” in AMD overnight—but macro and sector sentiment turned risk‑off, and highly valued AI leaders are the first in the firing line.

The Big Story Behind AMD: Analyst Day 2025 and a New Long-Term Playbook

Even as the stock trades softer today, much of the medium‑ and long‑term narrative for AMD comes from what management laid out at its 2025 Financial Analyst Day on November 11.

According to AMD’s own Investor Relations release, management outlined a plan to “lead the $1 trillion compute market” with a focus on data center and AI hardware, software, and systems. They backed that up with an aggressive new financial model:  ^[17]

• Company‑wide targets over the next 3–5 years:
  • >35% revenue compound annual growth rate (CAGR)
  • Non‑GAAP operating margin >35%
  • Non‑GAAP EPS exceeding $20
• Data center focus:
  • >60% revenue CAGR in data center
  • Targeting more than 50% share of server CPU revenue
  • AI‑specific data center revenue CAGR above 80%
• Client and gaming:
  • At least 10% revenue CAGR across client and gaming
  • Aiming to exceed 40% client revenue share
• Embedded and adaptive computing:
  • Management expects to exceed 70% revenue share in adaptive (FPGA/embedded) markets.

These goals are underpinned by a deep product and partnership roadmap, with MI350/MI450/MI500 AI GPUs, next‑generation “Venice” EPYC CPUs, new “Gorgon” and “Medusa” AI PC processors, and the continued expansion of AMD’s open ROCm software stack.  ^[18]

Unsurprisingly, Wall Street and the financial media reacted strongly:

• A 24/7 Wall St. recap notes that AMD shares spiked roughly 6% in pre‑market and more than 9% intradayafter CEO Lisa Su projected AMD could win double‑digit data center AI market share within three to five years, helped by accelerating AI chip demand. Wells Fargo responded by lifting its AMD price target to $345 and reiterating an “overweight” rating.  ^[19]
• Other coverage described the new financial targets as “massive news” for AMD shareholders because of the big step‑up in margin and EPS ambitions compared with prior models.  ^[20]

This very bullish long‑term guidance is a double‑edged sword in the short term: it supports the elevated valuation, but it also raises the bar—any hint of slowing AI demand or execution missteps can now trigger outsized moves in the stock.

Recent Numbers: Q3 2025 Earnings and Q4 Outlook

AMD’s latest reported fundamentals are one of the main reasons the market is even willing to entertain such ambitious long‑term targets.

From the company’s Q3 2025 earnings release:  ^[21]

• Revenue:
  • $9.25 billion (reported as $9.246B), a record quarter, up 36% year over year and 20% sequentially.
• Margins and profits (GAAP):
  • Gross margin 52%, up 2 percentage points year over year.
  • Operating income $1.27B, operating margin 14%.
  • Net income $1.24B, GAAP EPS $0.75.
• Non‑GAAP:
  • Gross margin 54%.
  • Operating income $2.24B, operating margin 24%.
  • Diluted EPS $1.20, up ~30% year over year and comfortably above many analyst estimates around $1.17.  ^[22]

Segment performance shows how AI is driving the story:

• Data Center revenue reached $4.3B, up 22% year over year, driven by 5th‑gen EPYC CPUs and Instinct MI300/MI350 GPUs.  ^[23]
• Client + Gaming revenue hit $4.0B, up 73% year over year, boosted by record Ryzen processor sales and strong Radeon gaming GPU and console demand.  ^[24]
• Embedded revenue of $857M declined 8% year over year, as that business digests earlier strength.  ^[25]

For Q4 2025, AMD guided:  ^[26]

• Revenue around $9.6B ± $300M, implying about 25% year‑over‑year growth and 4% sequential growth at the midpoint.
• Non‑GAAP gross margin ~54.5%.
• Importantly, guidance does not yet include revenue from Instinct MI308 GPU shipments to China, owing to export control uncertainty—giving AMD some optional upside if policy risk eases.

These numbers explain why many analysts still see upside from current levels, even after the big run AMD has had over the past year.

Flows Behind the Ticker: Institutions, Insider Selling and Options

1. Institutional buying and selling

Fresh 13F‑based analyses published today highlight mixed but active institutional positioning in AMD:

• Impax Asset Management Group increased its AMD holdings by about 59% in Q2, adding 4,535 shares to bring its stake to 12,207 shares (≈$1.73M). MarketBeat notes that overall, institutional investors and hedge funds collectively own more than 71% of AMD’s float.  ^[27]
• In contrast, Banco Bilbao Vizcaya Argentaria (BBVA) reduced its AMD position by roughly half, selling about 231,500 shares and ending Q2 with 226,650 shares worth around $32.2M.  ^[28]

This split reflects a common theme at these valuations: some institutions are adding on AI optimism, while others are locking in gains after a huge multi‑year run.

On top of that, MarketBeat points out significant insider selling in recent months, including CEO Lisa Su’s sale of 225,000 shares (around $36.9M) and additional sales by senior executives, leaving insiders with a very small percentage of total shares outstanding.  ^[29]

Insider selling doesn’t automatically mean the top is in—executives often diversify after large grants—but short‑term traders do watch these transactions, especially when they coincide with a big rally.

2. ARK Invest rotation out of AMD

Another eye‑catching move comes from Cathie Wood’s ARK Invest:

• A CoinCentral analysis of ARK’s daily trades reports that on Nov. 13, the fund sold 87,051 AMD shares, a sale valued at roughly $22.5 million, as part of a broader shift toward crypto‑related equities like Circle and Bitmine.  ^[30]
• The article notes that the sale came just two days after AMD’s Analyst Day, when the stock rallied about 10%, and that AMD then fell around 4% on Thursday to close at $247.96—suggesting classic profit‑taking after a news‑driven spike.  ^[31]

For traders watching flows, the message is: some fast‑money growth investors are trimming AMD after the run, even as long‑only fundamental shops like Impax are still adding.

3. Options market: elevated put activity

Earlier this week, Yahoo Finance highlighted unusually heavy AMD put‑option trading, with more than 15,000 contracts changing hands in a short‑dated $252.50 strike put expiring today (Nov. 14)—about 22 times its prior open interest.  ^[32]

Heavy volume in near‑the‑money puts expiring on a Friday can mean:

• Hedging by investors protecting gains after AMD’s Analyst Day rally.
• Short‑term bearish bets that the stock would retrace some of that spike by the end of the week.

Either way, it supports the idea that volatility around today’s open and into the close could be elevated, especially if AMD trades near levels those options are struck at.

How Wall Street Sees AMD Right Now

Despite today’s pre‑market weakness, analyst sentiment remains broadly positive.

Across multiple aggregators:

• AMD carries a “Moderate Buy” / “Buy”‑leaning consensus, with dozens of analysts rating the stock Buy or Strong Buy and a smaller group on Hold.  ^[33]
• The average 12‑month price target clusters around $273–$274, implying roughly 10% upside from the latest regular‑session close near $248.  ^[34]
• Recent target changes include:
  • Wolfe Research at $300 (outperform).
  • Truist Financial around $279 (buy).
  • Evercore ISI lifting its target to roughly $283 (outperform).
  • Cantor Fitzgerald more aggressively at $350 (overweight).  ^[35]

At the same time, analysts and strategists are increasingly vocal about AI valuation risks:

• Reuters and other outlets note that some investors fear parts of the AI complex may be in an early bubble, and they are looking to Nvidia’s upcoming earnings to confirm whether fundamentals are still catching up to expectations.  ^[36]
• Articles on Motley Fool / Nasdaq and AOL emphasize that long‑term growth in AI infrastructure could still be massive, but remind readers that share prices like AMD’s have already priced in a lot of that optimism.  ^[37]

In other words, the Street broadly likes AMD’s fundamentals and positioning, but today’s pullback is happening against a background of rising skepticism about how far and fast AI stocks have run.

What to Watch on AMD After the Opening Bell Today

For traders and investors focusing on AMD specifically for today, here are the key things to monitor once the U.S. market opens:

1. Does AMD hold the low‑240s?

• The pre‑market indication around $242–$243 is below Thursday’s close but still well above the 52‑week midpoint, so there’s room both for dip‑buyers and for a deeper pullback.  ^[38]
• Watch how AMD trades against the Nasdaq 100 and SOX‑style chip indexes: underperforming peers would suggest stock‑specific profit‑taking, while moving in line would point more to macro‑driven selling.

2. Follow‑through on Fed and macro headlines

• Any additional remarks from Fed officials or surprise macro data (especially on inflation or jobs, once releases resume post‑shutdown) could move bond yields and strengthen or weaken the pressure on high‑multiple tech.  ^[39]
• A retracement in futures or a calmer tone around the December meeting could quickly ease the pressure on AI names like AMD.

3. Sector news: Nvidia, Applied Materials and AI demand

• While Nvidia doesn’t report today, commentary and previews around its upcoming results are dominating the AI‑chip narrative; anything hinting at weaker capex or cloud AI demand would likely spill over into AMD.  ^[40]
• Reactions to Applied Materials’ warning on China spending could also influence how investors think about U.S. export controls and the potential upside from AMD’s MI308 GPUs if restrictions loosen—or conversely, downside if they tighten further.  ^[41]

4. Analyst and media reactions to Analyst Day

• The Analyst Day only happened three days ago, so more sell‑side notes and media pieces are still coming out. Each new target hike or downgrade can move the stock intraday, especially in a thin tape.  ^[42]

5. Options and end‑of‑week flows

• With heavy short‑dated put volume around the $250 area expiring today, watch how AMD trades as the session progresses—pinning near key strikes or breaking sharply below can cause the options market to amplify moves as dealers hedge.  ^[43]

How to Frame AMD If You’re Watching the Stock Today

If you’re following AMD into the open, it can help to separate three time horizons:

1. Intraday / short term (today to next week)
   • Dominated by macro tone, Nvidia/AI sentiment, and positioning (profit‑taking, options flows).
   • Expect elevated volatility; news can swing the stock quickly in both directions.
2. Medium term (next 6–12 months)
   • Anchored in Q4 and 2026 guidance, the ramp of MI300/MI350 GPUs, EPYC share gains, and AI cloud deals with partners like OpenAI, Oracle and major cloud providers.  ^[44]
   • AMD’s ability to hit or beat the new financial model milestones will decide whether today’s valuation is sustainable.
3. Long term (3–5+ years)
   • Built around the idea that AMD can secure meaningful, potentially double‑digit share of data center AIwhile also growing its CPU, GPU, and embedded franchises within a $1 trillion compute market.  ^[45]

Whichever bucket you’re in, it’s worth remembering:

• High‑growth, high‑multiple AI names like AMD can move very quickly, up or down.
• Do your own research, stress‑test your assumptions about AI demand, export controls, and competition from Nvidia and others.
• Consider your risk tolerance, time horizon, and diversification before making any trading or investment decision.

Again, this article is not investment advice—just a structured look at what’s happening around AMD stock before the U.S. market opens today.

References

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