PREVIEW: AMD falls ahead of report; focus on AI chip demand

** Advanced Micro Devices AMD.O shares dipping 0.3% on Tues, easing from recent 52-week high ahead of qtrly results after the bell, as investors focus on AI chip demand and the co's revenue outlook
** Analysts expect qtrly rev up 27% to $7.42 bln, with adj EPS seen at $0.49 vs $0.69 yr-ago, per LSEG
** AMD in May forecast Q2 rev of about $7.4 bln, plus or minus $300 mln
** AMD shares on July 30 notched highest close since July 2024. Stock has surged about 45% YTD, outpacing Nasdaq's .IXIC 9% gain and 12% rise in PHLX semiconductor index .SOX

** AMD recently at 34x expected earnings, just above 5-yr avg forward PE of 32