Advanced Micro Devices (AMD) has been hitting all-time highs, with stock poised for more gains ahead of its third-quarter earnings report on Nov. 4. Rising 64% in a month, AMD has outperformed the Nasdaq Composite, with a market cap of $410 billion.

AMD’s data center CPUs are popular in cloud computing, and its desktop processing business is expanding rapidly, challenging Intel. The recent deal with OpenAI for data center GPUs has boosted confidence in AMD’s product, positioning it as a strong player in the market.

Despite a second-quarter earnings miss, AMD posted solid numbers, with revenue up 32% from a year ago. With guidance for Q3 revenue between $8.4 billion to $9 billion, analysts are increasingly bullish on AMD, with most rating it as a “Strong Buy.”

Trading above its mean price target, AMD has potential for an 18% gain in the short term, according to the most bullish analyst. As demand for computing power grows, AMD’s strong performance in personal computing and data center markets makes it a reliable source of revenue and profits.

Read more at Yahoo Finance: Is AMD Stock a Buy at New Record Highs?