This underperforming semiconductor stock could witness a turnaround next year.
Glen Kacher, Light Street Capital founder, joins 'Closing Bell' to discuss whether mega cap stocks can maintain momentum.
The Trump vs. Harris game is down to the bottom of the ninth.
The 2024 Q3 earnings season continues at a rapid pace, with a nice variety of companies delivering quarterly results daily.
Advanced Micro Devices, Inc.'s results aren't particularly exciting as the company sits near all-time highs. The company is competitive in CPUs and increasing competitiveness in datacenter, though other segments seem to be suffering. We question whether AMD can gain enough datacenter boost to justify its valuation before we expect margins and revenue growth to slow down.
Advanced Micro Devices, Inc. is making significant strides in software development with its ROCm stack and AI capabilities, aiming to close the gap with Nvidia's CUDA. Its acquisition of Silo AI enhances its AI expertise, potentially positioning it as a viable alternative to Nvidia in AI solutions. The successful launch of AMD's MI300X AI accelerator and its adoption by major hyperscalers like Microsoft, Meta, and Oracle bolster its growth prospects.
Recently, Zacks.com users have been paying close attention to Advanced Micro (AMD). This makes it worthwhile to examine what the stock has in store.
AMD share prices have dropped substantially following earnings, based largely on forward guidance figures that may have been perceived as weak by the market. A 68% plunge in gaming segment revenues also contributed to the sell-off and overshadowed other aspects of the report that were more positive. Recent price behavior suggests that a potential trend reversal might be in place, as key support levels have been broken during this downturn.
Advanced Micro Devices stock (NASDAQ: AMD) stock dropped about 13% over the past two trading days, following its Q3 earnings report, during which the company provided slightly softer-than-expected guidance for the upcoming quarter. AMD forecasts Q4 revenues between $7.2 billion and $7.8 billion, meaning that the midpoint falls slightly short of the $7.55 billion consensus estimate.
Investors who own Nvidia stock might benefit from adding its top competitor to their portfolio.
Advanced Micro Devices (NASDAQ: AMD) recently reported its fiscal Q3 earnings, revealing a mixed bag that left investors divided.
The chip designer has found a niche with AI inference.