What's Going On With Advanced Micro Devices Stock Today?
Portfolio Pulse from Ryan Gustafson
Advanced Micro Devices, Inc. (AMD) shares are trading lower ahead of its Q2 earnings report due in 14 days. The company is expected to report earnings per share of 57 cents and revenue of $5.31 billion. B of A Securities analyst Vivek Arya maintained a Neutral rating on AMD and lowered the price target from $135 to $130. Over the past 3 months, AMD's stock has risen by 30.55%.
July 18, 2023 | 6:14 pm
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AMD's stock is trading lower ahead of its Q2 earnings report. The company's price target has been lowered from $135 to $130 by B of A Securities, despite a 30.55% rise in the past 3 months.
The decrease in AMD's stock price is likely due to the upcoming earnings report, which can often lead to uncertainty and volatility in a company's stock. Additionally, the lowering of the price target by B of A Securities may have negatively impacted investor sentiment, despite the stock's significant rise over the past 3 months.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100