Advanced Micro Devices, Inc.’s stock price takes a hit, falling 8.91% to $144.27 in latest market shakeup

Advanced Micro Devices, Inc. (AMD)

144.27 USD -14.11 (-8.91%) Volume: 88.99M

Advanced Micro Devices, Inc.’s stock price stands at 144.27 USD, experiencing a trading session drop of 8.91%. Despite a high trading volume of 88.99M, AMD’s year-to-date performance shows a decrease of 2.13%, reflecting its volatile market position.

Latest developments on Advanced Micro Devices, Inc.

Advanced Micro Devices (AMD) shares took a hit today following a lukewarm forecast and in-line Q1 earnings report. Despite the surge in demand for AI chips, AMD’s revenue forecast failed to impress investors, causing the stock to drop by 7%. AMD’s full-year data centre outlook also disappointed, contributing to the stock’s tumble. While some analysts believe the stock remains a lucrative long-term bet, others have revised their price targets downwards. The company’s weak Q2 outlook and tepid forecast amid weak demand for gaming chips have raised concerns among investors.

Advanced Micro Devices, Inc. on Smartkarma

Analysts on Smartkarma have been covering Advanced Micro Devices (AMD) with a bullish sentiment. William Keating, in his report “AMD. It’s A Marathon, Not A Sprint,” highlighted Q124 revenues of $5.5 billion, a forecast of $5.7 billion for Q224, and a 35% drop in share price from its 52-week high. Baptista Research also shared a bullish view in their report, “Advanced Micro Devices (AMD): An Analysis Of Its Competitive Road Map and Innovation & Major Growth Catalysts,” focusing on the significant growth in data center sales and strong financial performance in Q4.

William Keating continued his positive outlook on AMD in another report titled “AMD. This Party’s Just Getting Started…” where he mentioned Q423 revenues of $6.2 billion, a forecast of $5.4 billion for Q124, and a projected 2024 Data Center growth of over 70% year-over-year. Despite concerns about FY23 revenue decline, the analysts expect a resurgence in AMD’s market share growth and entrance into the AI acceleration segment to drive growth in 2024, as discussed in the report “AMD. With FY23 Revenues Set to Fall ~4% YoY, Is The Party Over?” by William Keating.

A look at Advanced Micro Devices, Inc. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Advanced Micro Devices, Inc. (AMD) has a mixed outlook according to Smartkarma Smart Scores. While the company scores well in terms of momentum, indicating strong market performance, it lags behind in areas such as dividend and growth. With a focus on producing semiconductor products, AMD faces challenges in driving growth and providing returns to shareholders through dividends.

Despite some areas of weakness, Advanced Micro Devices, Inc. (AMD) shows resilience in the face of market fluctuations, which is reflected in its Smartkarma Smart Score. While the company may not be the top performer in all categories, its ability to weather economic uncertainties and maintain stability is a positive sign for long-term investors. Overall, AMD’s score suggests a cautious approach, with potential for growth but also some risks to consider.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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