AMD has released its latest quarterly results, and most analysts liked what they saw. The chipmaker reported Tuesday after th e bell earnings per share of 69 cents on revenue of $5.6 billion . Analysts expected a profit of 67 cents per share on revenue of $5.5 billion. AMD shares popped about 3%. However, the semiconductor manufacturer also announced a likelihood of a 10% decline in year-over-year sales for the current quarter, putting a slight overhang on some analyst outlooks for this year.
"While we expect the competitive landscape in PC and the near-term correction in Data Center to potentially weigh on investor sentiment, we remain constructive on the stock given our expectation for significant market share expansion in server CPU and the potential for margin improvement in 2H23/2024 driven by higher volumes and better mix vs. 1H23 - both idiosyncratic in nature," Hari wrote in a client note on Wednesday.
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