AP Photo / Paul Sakuma

Wall Street is generally bullish ahead of AMD's second-quarter earnings report on Tuesday, with most analysts rating the stock a neutral or buy, according to Bloomberg. However, shares are trading down about 0.5% at $14.12 a piece.

Analysts are expecting earnings of $0.001 per share on revenue of $1.16 billion, according to data from Bloomberg.

The company has beat on earnings estimates in the last seven quarters, topping estimates by an average of 106.82% over that period.

For the first quarter, AMD lost $0.04 per share as revenue rose 18.3% year-over-year to $984 million. Higher demand for the company's low-cost Ryzen CPUs helped drive the growth, according to CEO Lisa Su.

The company has been riding the wave of increased demand for its graphics processing units due to the rising popularity of cryptocurrency mining. Ethereum and Bitcoin have been in the headlines with their explosive growth this year. AMD has sold out of its GPUs at several points this year because cryptocurrency enthusiasts are buying all the cards they can to better their machines and grab a larger share of the growing currencies.

AMD is facing steep competition from its main rival Nvidia. Its rival is not only taking over traditional GPU businesses like data center acceleration, but is also placing its highest performing chips in the hands of top researchers and car companies, sometimes for free in a move to outpace the competition.

Millennials, who have been one of the most bullish groups, are selling AMD shares ahead of its earnings. According to data from Robinhood about users of its app, millennial investors are selling the stock 7% more frequently than they are buying it.

AMD is up 24.49% this year.

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