What's Going On With AMD Stock Thursday?
Portfolio Pulse from Anusuya Lahiri
Advanced Micro Devices (AMD) stock is trading higher after Taiwan Semiconductor Manufacturing Company (TSMC) reported upbeat quarterly earnings and outlook. TSMC, a crucial supplier for AMD, reported a revenue decline of 14.6% YoY to $17.28 billion, beating the consensus of $17.07 billion. AMD also launched its flagship laptop graphics processor, AMD Radeon RX 7900M, and showcased AMD Ryzen Threadripper PRO 7000 WX-Series processors. The new products will be available later this year to partners including Dell, HP, and Lenovo.
October 19, 2023 | 3:22 pm
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POSITIVE IMPACT
AMD's stock is trading higher after positive earnings report from its crucial supplier TSMC and the launch of new products.
AMD's stock is likely to rise in the short term due to the positive earnings report from its crucial supplier TSMC, which indicates a stable supply chain. The launch of new products also signals potential growth in revenue.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Dell is listed as a partner for AMD's new products, which will be available later this year.
Dell's partnership with AMD for its new products could potentially lead to increased sales and revenue, likely causing a short-term rise in its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
HP is listed as a partner for AMD's new products, which will be available later this year.
HP's partnership with AMD for its new products could potentially lead to increased sales and revenue, likely causing a short-term rise in its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
TSMC reported upbeat quarterly earnings and outlook, beating consensus estimates.
TSMC's positive earnings report and outlook, which beat consensus estimates, indicate strong financial performance and potential growth, likely leading to a short-term rise in its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80