** Advanced Micro Devices AMD shares fall 2.1% but still near record highs ahead of quarterly results after the bell, as investors watch for updates on AI chip growth and data center segment performance
** Analysts expect quarterly revenue to rise 28% to $8.74 bln, adj. EPS at $1.16 vs 92 cents a year ago, per data compiled by LSEG
** Report seen as key for gauging AMD’s progress vs Nvidia NVDA in AI and data center
** AMD stock surged about 111% YTD, far outpacing Nasdaq’s IXIC 22% rise, with shares hitting a record high last Wednesday
** Stock recently at 43x expected earnings, well above 5-year average forward PE of 31, per LSEG
** Recent $1 bln U.S. supercomputer partnership highlights AMD’s AI chip capabilities, but last quarter’s data center results and China export restrictions remain key risks
