Advanced Micro Devices Inc. (AMD)
Tempered AI Outlook, For Now -- Upgrading AMD To Buy For Intra-Quarter Trade
We're upgrading Advanced Micro Devices, Inc. stock to a buy from sell as the AI outlook is tampered for now. AMD just reported 3Q24 results and a softer-than-expected outlook for Q4 and tailing whisper numbers of AI GPU sales at $5B vs. $6B, causing the stock to pullback over 9%. Our negative thesis on AMD lacking material upside to current AI growth expectations continues to be at play, but we see a window for an intra quarter trade.
AMD: Su Fumbles, Stock Tumbles, But There's A Silver Lining (Rating Downgrade)
Advanced Micro Devices, Inc. stock is nosediving in light of reporting its Q3 2024 results despite beating consensus estimates. AMD's guidance for Q4 falling short of analyst estimates is the perceived culprit. However, there's a silver lining to this double-digit dip in AMD stock. Read on to learn more.
Why AMD Stock Is Plummeting Today
AMD showed some strong momentum in artificial intelligence in Q3. So why is the stock sinking?
AMD guidance miss offers ‘much-needed reset' - Bank of America
Bank of America analysts have repeated backing for Advanced Micro Devices Inc (NASDAQ:AMD, ETR:AMD) (AMD) as underwhelming guidance offers scope for a “much-needed reset”. AMD on Tuesday laid out expectations for revenue to sit between $7.2 billion and $7.8 billion in the fourth quarter, against market expectations for just over $7.5 billion.
AMD Q3: Why The Stock Is Falling Despite Earnings Meeting Expectations
While a low Q4 revenue outlook is touted as a factor for Advanced Micro Devices' stock dropping despite earnings meeting expectations in Q3, this isn't a driving factor. AMD revenue earnings for 2024 are trending toward being largely identical to that of FY 2023, thus dashing investor convictions on forward growth. The company continues to lose revenue segment diversification benefits. The rise of “data center” revenues pits it squarely against Nvidia in the years to come.
AMD: Why I Am Aggressively Loading Up The Truck
AMD shares dropped 8% post-earnings despite beating top line estimates due to weak Q4 guidance. AMD saw a revenue acceleration of 10 PP in Q3'24 driven by strong demand for AI chips from the Data Center segment. Free cash flows also surged and gross margins expanded 3% Y/Y. On the negative side, then company's guidance for Q4 disappointed.
AMD Q3 Earnings Review: A Buying Opportunity
Advanced Micro Devices, Inc.'s stock cratered due to a minuscule guidance miss ($50M). Despite this minor disappointment, AMD posted excellent numbers, including a record 122% revenue increase in its data center segment. AMD remains relatively inexpensive, presenting substantial opportunities as we advance.
2 Semiconductor Stocks Staging Post-Earnings Bear Gaps
Big Tech will be taking over the earnings confessional over the next couple of days, with chip names among those reporting.
AMD: Not Time For Panic (Rating Upgrade)
AMD reported decent Q3 results, surpassing expectations on revenue, with significant growth in the Data Center segment. The company only matched bottom line estimates, and current quarter guidance was a tad light. The nearly 8% post-earnings pullback makes the valuation look a little more attractive.
2 Tech Stocks To Watch In November 2024
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Why is AMD stock price crashing?
On October 29, Advanced Micro Devices (NASDAQ: AMD) held its Q3 2024 earnings call. Earnings per share (EPS) came in exactly on par with consensus estimates, at $0.92, for a pretty compelling 38% increase year-over-year (YoY).
Advanced Micro Devices is Building Momentum with AI: Buy the Dip
As slow as it is to build, Advanced Micro Devices NASDAQ: AMD is gaining momentum with AI and is well-positioned for long-term market share gains. The primary hurdle is its AI ecosystem, which lags behind NVIDIA's NASDAQ: NVDA development, but the ecosystem is improving quarterly, aided by internal advances and acquisitions.
