Explore the latest developments concerning AMD has been.
AMD has been crushed into earnings. Here’s one way to trade it
Advanced Micro Devices has been under significant pressure leading up to earnings after the close. The stock has been caught in the swings of the AI debate all year, but this most recent leg lower was triggered by a wave of disappointing tech earnings.
A record drop in Alphabet last Thursday was followed by weak results from Amazon, as well as AMD's long-standing CPU rival, Intel. Intel guided fourth-quarter revenue well below consensus and expects the PC slowdown to last through at least the first half of next year. That sent Intel's stock down 29% on Friday, its worst day since the 1970s. Caught in the fallout of Intel and the broader tech sector, AMD fell 10.9% that day and slid another 7.5% Monday.
Here's how options traders are playing AMD ahead of earnings
Got a confidential news tip? We want to hear from you.
Sign up for free newsletters and get more CNBC delivered to your inbox
Get this delivered to your inbox, and more info about our products and services.
Data is a real-time snapshot *Data is delayed at least 15 minutes.
Global Business and Financial News, Stock Quotes, and Market Data
and Analysis.
Lose yourself in Maze Infinite Puzzle! A maze and puzzle game designed for calm, focused gameplay.
AMD to report Q3 results as chip stocks rebound following last week's steep selloff
AMD (AMD) reported its third quarter results after the bell on Tuesday, beating expectations on the top and bottom lines, as the company's data center revenue grew 97%.
For the quarter, AMD saw earnings per share (EPS) of $2.09 on revenue of $13.38 billion. Analysts were projecting EPS $1.97 on revenue of $13.08 billion, according to Bloomberg consensus estimates.
The company saw EPS and revenue of $1.20 and $9.2 billion, respectively, in the same period last year.
AMD's Data Center arm generated sales of $8.5 billion, ahead of estimates of $8.19 billion. It reported revenue of $4.34 billion in the same period last year.
Last month, the company announced its Helion reference design, a server rack designed to be outfitted with various configurations of AMD's CPUs and GPUs based on customers' needs.
For more detailed information, explore updates concerning AMD has been.
0 Comments