Most analysts are sticking with AMD even after 'partly cloudy' fourth-quarter earnings

  • 📰 CNBC
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 72%

United States News News

United States United States Latest News,United States United States Headlines

Analysts have mixed opinions on AMD's outlook, after the company released its fourth-quarter earnings on Tuesday.

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock Market News: Boeing delivers last 747, stocks lower on Tuesday, AMD reports todayThe Boeing company is delivering last 747 jumbo jet to Atlas Air as stocks open lower on Wall Street
Source: FoxBusiness - 🏆 458. / 53 Read more »

The Computer Chip Wars: How AMD Ended Intel's Market DominanceWatch: When you think of computer chips, you probably think of Intel. But in 2022, the company gave up its top spot in market value to a rival: AMD. We explain why.
Source: WSJ - 🏆 98. / 63 Read more »