Is an AMD Stock Split Likely After Aug. 4?
Key Points
Advanced Micro Devices reports its second-quarter results on Aug. 4.
The stock price has climbed over 150% so far this year, sending it above $500.
Micron and Sandisk are trading at prices about twice and three times AMD's price, respectively, but neither has announced a split this year, suggesting that even tech companies with high share prices aren't feeling pressured to conduct splits.
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On Aug. 4, Advanced Micro Devices (NASDAQ: AMD) will announce its second-quarter earnings results. Management has guided for revenue in the range of $10.9 billion to $11.5 billion.
That earnings report is coming at a time when companies in the artificial intelligence (AI) space have experienced a sell-off, but those stocks are showing signs of a rebound. A strong earnings report from AMD could both boost its stock price and further fuel the broader sector's rally.
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AMD is already trading well above $500 per share. If the stock price keeps rising, shareholders may wonder if a stock split could be on the table.
Image source: The Motley Fool.
The unlikelihood of an AMD stock split in 2026
The last time AMD split its stock was in 2000, when it conducted a 2-for-1 split, so history doesn't offer much of a road map for how management will respond to its current situation. However, the information we have suggests that a stock split is unlikely anytime soon, even if the chipmaker reports monster earnings on Aug. 4.
Stock splits involve legal fees and require additional work through shareholder communication -- expenses a company may prefer to avoid if possible.
In addition, tech companies with stock prices well above AMD's, including Sandisk (around $1,600) and Micron Technologies (around $960), have yet to split their stocks this year. Granted, that's a small sample size, but it shows that even with where their respective stock prices are trading, those chip companies aren't feeling pressured to conduct splits.
Focusing on the upcoming quarterly results
Since investors can't control whether or when a management team splits a stock, the focus on AMD should be around long-term demand for its wares, its efficiency, and its revenue. AMD's updates on Aug. 4 will show whether demand from hyperscalers remains strong and whether gross margins are healthy, and offer some indications about the pace at which its revenue will keep climbing.
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Jack Delaney has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices and Micron Technology. The Motley Fool has a disclosure policy.
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