As November begins, investors are watching Advanced Micro Devices ahead of the anticipated AMD earnings on Tuesday after the bell.

Coupled with strong seasonal trends and recent AI-focused deals, the stock is shaping up as a compelling opportunity this month.

Specifically, AMD’s 25-year seasonality chart indicates that November is historically one of the best months for the stock, with 71% of past Novembers delivering positive returns, according to charting platform TrendSpider.

November’s strength isn’t isolated. May also shows strong performance with a 60% positive return, while October posts a solid 44%, indicating a strong finish to the year. January and February show decent returns at 48%, suggesting good early-year momentum.

Notably, AMD has had an impressive run in 2025, gaining about 115% year-to-date, with the stock closing the last session at $259, up 1.3% for the day.

AMD’s momentum in artificial intelligence (AI) and data centers continues to strengthen its market position. 

Long considered a step behind Nvidia (NASDAQ: NVDA), the company has narrowed key performance and cost-efficiency gaps, earning recognition as a serious competitor in AI computing. 

Analysts now rank AMD as Nvidia’s main challenger in data centers, with its chips showing impressive competitiveness in AI server performance.

Analysts bullish on AMD earnings 

Indeed, the stock’s appeal for November is likely to be further strengthened after AMD reports its Q3 earnings on Tuesday, with analysts forecasting strong results. 

For the quarter, analysts expect earnings per share of $1.17 on revenue of $8.7 billion, compared to $0.92 and $6.8 billion a year earlier. Analysts note, however, that the financial impact of AMD’s new deals will likely materialize in the coming quarters rather than immediately.

This optimism comes as AMD signed major deals with OpenAI and Oracle (NASDAQ: ORCL), sending the stock higher. Specifically, the company agreed to supply OpenAI with up to 6 gigawatts of GPUs for its AI data centers, while OpenAI plans to purchase roughly 160 million AMD shares, about 10% of the company.

The firm also partnered with Oracle to deploy up to 50,000 GPUs across the cloud giant’s facilities. In addition, AMD chips will power two Department of Energy supercomputers at Oak Ridge National Laboratory as part of a $1 billion joint investment.

Despite this momentum, AMD’s $418 billion market capitalization still trails Nvidia’s $5 trillion dominance in the AI sector.

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