AMD (AMD) PT Lowered to $176 at Citi

5 analysts weigh in on AMD earnings

May 1, 2024 8:01 AM EDT

AMD (NASDAQ: AMD) reported its latest quarterly earnings after the close Tuesday, with profit in line with consensus expectations and revenue topping estimates.

AMD posted Q1 EPS of $0.62, while revenue for the quarter came in at $5.5 billion versus the consensus estimate of $5.48 billion.

Furthermore, the company sees Q2 2024 revenue of $5.4-6 billion, versus the consensus of $5.7 billion, while for the second quarter of 2024, AMD expects revenue to be approximately $5.7 billion, plus or minus $300 million. At the mid-point of the revenue range, this represents... More

AMD (AMD) PT Lowered to $170 at Cantor Fitzgerald

May 1, 2024 6:36 AM EDT

Cantor Fitzgerald analyst C.J. Muse lowered the price target on AMD (NASDAQ: AMD) to $170.00 (from $190.00) while maintaining a Overweight rating.

The analyst comments "At the heart of investor disappointment is lack of earnings leverage upside vis-à-vis consensus for all of CY24. The MI300 ramp is truly impressive, but supply constraints (mgmt. raised guide to $4B, we are hearing sufficient HBM for $5-6B) are limiting a vision for even greater upside where... More

US stock futures fall as rate jitters grow ahead of Fed meeting

May 1, 2024 5:05 AM EDT

Investing.com-- U.S. stock index futures fell in evening deals on Tuesday as fears of higher-for-longer interest rates gained traction before the conclusion of a Federal Reserve meeting later in the day.

Mixed earnings from Amazon.com Inc (NASDAQ: AMZN) also offered differing cues, as the e-commerce and tech giant clocked stronger earnings on artificial intelligence demand for cloud computing but forecast increased costs.

S&P 500 Futures fell 0.2% to 5,055.00 points, while Nasdaq 100 Futures fell 0.4% to 17,494.75 points by 19:53  ET (23:53 GMT). Dow Jones Futures fell 0.1% to 37,961.0... More

AMD (AMD) PT Lowered to $230 at KeyBanc

May 1, 2024 2:46 AM EDT

(Updated - May 1, 2024 8:45 AM EDT)

KeyBanc analyst Justin Vinh lowered the price target on AMD (NASDAQ: AMD) to $230.00 (from $270.00) while maintaining a Overweight rating.

The analyst commented, "AMD posted solid 1Q results, which were slightly above expectations. 1Q... More

After-hours movers: Amazon, AMD, Starbucks, Pinterest and more

April 30, 2024 4:44 PM EDT

After-Hours Stock Movers:

Amazon (NASDAQ: AMZN) gained 2.6% after first quarter EPS and revenue topped analyst expectations. Investors looked past softer-than-expected second quarter sales guidance from the online retail giant.

AMD (NASDAQ: AMD) fell 3% after the... More

AMD stock slides as earnings, outlook meet expectations; analysts remain bullish

April 30, 2024 4:24 PM EDT

(Updated - May 1, 2024 4:35 AM EDT)

Advanced Micro Devices (NASDAQ: AMD) saw its shares plunge 5.5% in premarket trading Wednesday after the chipmaking giant posted in-line earnings per share (EPS) for the fiscal Q1 2024.

Specifically, the company posted EPS of $0.62, meeting analyst estimates. Revenue for the quarter reached $5.5 billion, slightly surpassing the consensus estimate of $5.48 billion.

The non-GAAP gross margin for the quarter increased by 2 percentage points year-over-year to 52%.

We delivered... More

AMD AI chip revenue forecast fails to impress, shares dive 7%

April 30, 2024 4:23 PM EDT

By Arsheeya Bajwa and Max A. Cherney

(Reuters) -Advanced Micro Devices forecast AI chip sales on Tuesday that failed to impress investors, knocking its stock down about 7% in extended trade.

Chief Executive Officer Lisa Su told analysts on a conference call that AMD expects AI chip sales of roughly $4 billion for 2024, an increase of $500 million from its prior estimate for the year.

The increase of a half billion dollars was not enough to meet Wall Street's lofty expectations for AI chips. Nvidia has consistently crushed investor expectations because of soaring AI chip sales.

"I... More

AMD (AMD) Reports In-Line Q1 EPS, Offers Guidance

April 30, 2024 4:16 PM EDT

Advanced Micro Devices, Inc. (NASDAQ: AMD) reported Q1 EPS of $0.62, in-line with the analyst estimate of $0.62. Revenue for the quarter came in at $5.5 billion versus the consensus estimate of $5.48 billion.

GUIDANCE:

Advanced Micro Devices, Inc. sees Q2 2024 revenue of... More

AMD, Qualcomm and Apple unlikely to deliver 'clean beats' - Lynx Equity Strategies

April 30, 2024 1:04 PM EDT

As AMD (NASDAQ: AMD), Qualcomm (NASDAQ: QCOM), and Apple (NASDAQ: AAPL) prepare to disclose their earnings reports, analysts at Lynx Equity Strategies are cautious. With expectations tempered, the consensus points towards cautiously positive earnings announcements, albeit without the anticipated "clean... More

Mizuho explains why Amazon and AMD are 2 most important reports this week

April 30, 2024 10:31 AM EDT

Big Tech companies began reporting their latest quarterly results last week, with Microsoft (NASDAQ: MSFT) and Alphabet (NASDAQ: GOOGL) both beating analyst expectations, driving noteworthy increases in their stock prices.

This week, a few more important prints are scheduled to come out, with Amazon (NASDAQ: AMZN) and AMD (NASDAQ: AMD) reports set to be the biggest test of the week for the tech sector according to Mizuho analysts.

No disrespect to... More

AMD (AMD) call put ratio 1.8 calls to 1 put into quarter results and outlook

April 30, 2024 10:22 AM EDT

AMD (NASDAQ: AMD) May weekly call option implied volatility is at 113, May is at 74; compared to its 52-week range of 34 to 58 into the expected release of quarter results today after the bell.

... More

US stock futures flat as tech rally cools, Fed meeting looms

April 30, 2024 5:19 AM EDT

Investing.com-- U.S. stock index futures moved little in evening deals on Monday as a rally in the technology sector appeared to be running out of steam amid dwindling hopes for interest rate cuts by the Federal Reserve.

Focus was now on a Fed meeting later in the week for more cues on policy, after a series of hot inflation readings saw traders price out most expectations for any near-term rate cuts. 

While Wall Street indexes marked some gains in the past three sessions, they were still set to clock losses for... More

AMD (AMD) May weekly 160 straddle into quarter results

April 30, 2024 3:47 AM EDT

AMD (NASDAQ: AMD) May weekly 160 straddle priced for a mov of 8% into the expected release of quarter results today after the bell.

... More

AMD (AMD) call put ratio 2.6 calls to 1 put into quarter results

April 29, 2024 11:14 AM EDT

AMD (NASDAQ: AMD) May weekly call option implied volatility is at 98, May is at 61; compared to its 52-week range of 34 to 58 into the expected release of quarter results after the bell on April 30.

... More

AMD stock target cut at Morgan Stanley 'amid longer term concerns'

April 29, 2024 7:23 AM EDT

Morgan Stanley's AMD (NASDAQ: AMD) stock price target was cut to $177 from $193 in a note Monday. The firm maintained an Overweight rating on the stock.

The investment bank said that despite their long-term concerns, they actually have a constructive view of the company and stock over the long term.... More

AMD (AMD) PT Lowered to $185 at Susquehanna

April 29, 2024 7:11 AM EDT

(Updated - April 29, 2024 7:15 AM EDT)

Susquehanna analyst Christopher Rolland lowered the price target on AMD (NASDAQ: AMD) to $185.00 (from $200.00) while maintaining a Positive rating.

The analyst commented: "On Tuesday, April 30, AMD reports 1Q earnings. In short, we expect generally in-line to slightly weaker guidance driven by weakness in AMDs core business, perhaps offset by potential MI300 upside. We note cooling investor sentiment for MI300 after competitive GTC announcements from NVIDIA. However, we believe further upward revisions to MI300 guidance are likely, and necessary, for shares to move higher. We... More