What's Going On With AMD Stock Friday
Portfolio Pulse from Anusuya Lahiri
AMD shares are trading lower after Cleveland Research reportedly cut its second and third-quarter estimates on the stock. The chipmaker's Q1 results failed to impress investors, despite surpassing consensus expectations. AMD CFO Jean Hu expressed confidence in the second half of the year.
May 19, 2023 | 5:30 pm
News sentiment analysis
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NEGATIVE IMPACT
AMD shares are trading lower after Cleveland Research cut its Q2 and Q3 estimates. The company's Q1 results surpassed expectations but failed to impress investors.
Cleveland Research's decision to cut AMD's Q2 and Q3 estimates is likely to negatively impact the stock price in the short term. Despite Q1 results surpassing expectations, investors remain unimpressed, which could further contribute to the stock's decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Nvidia Corp's stock also traded lower on Friday, possibly influenced by the negative sentiment surrounding AMD's lowered estimates.
Nvidia's stock trading lower could be influenced by the negative sentiment surrounding AMD's lowered estimates. As both companies operate in the same industry, negative news for one may impact the other's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50