Second-quarter earnings reports are coming from some of the “Magnificent 7” giants and several other big technology companies that have been, and plan to be, part of the AI revolution. Each of these companies has its unique circumstances and challenges that will determine success.
Advanced Micro Devices stock has risen on expectations for continued market share gains in processors for PCs and servers.
AMD is scheduled to report a quarterly financial update that could have huge implications for investors.
AMD and Micron saw sales of their AI-related products explode, leading to double digit year-over-year revenue growth. AMD's data center division enjoyed an 80% sales jump from a year ago, although some parts of its business are struggling.
Nvidia has been the early beneficiary of the AI revolution. Beth Kindig of I/O Fund argues that while Nvidia stock has much further to run, AMD could outpace its performance over the coming five years.
Shares in AMD have risen nearly 115% since the start of 2023. However, its earnings haven't kept up with its stock growth, making it an overvalued option.
UPDATE—July 26, 2024: This article has been updated to reflect more recent analyst estimates and share price information.
AMD's second-quarter 2024 results are expected to suffer from sluggish results from the Embedded and Gaming segments, as well as stiff competition from NVIDIA.
Advanced Micro (AMD) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Tech stocks are leading growth drivers in the stock market and have been for decades. Chip companies play crucial roles as their hardware is necessary to develop countless sectors.
AI revenue expectations for the year are already higher than AMD's prior guidance, an analyst noted
As earnings season unfolds and several mega-cap tech stocks, including members of the "Magnificent Seven," have reported, the overall market and tech sector have seen significant declines in recent weeks. The XLK technology sector ETF has dropped nearly 6% this month and is now down over 10% from its recent 52-week highs.