Can AMD Top Muted Expectations, Lend Support To Tech Rally? Q3 Earnings Preview
Portfolio Pulse from Shanthi Rexaline
Advanced Micro Devices, Inc. (AMD) is set to report its Q3 results, with analysts expecting a 4.5% decrease in non-GAAP EPS from the previous year and a 4.4% YoY decline in revenue. KeyBanc Capital Markets and Raymond James anticipate slightly higher results due to improving PC and server demand. AMD's Q3 outlook suggests a 30% YoY growth in the Client segment and a low-single-digit sequential decline for the Gaming segment. The company's stock has gained about 49% YTD, outperforming the S&P 500 and Nasdaq-100.
October 31, 2023 | 10:21 am
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POSITIVE IMPACT
The iShares Semiconductor ETF (SOXX) has risen 26.9% YTD, which may be influenced by the performance of companies like AMD.
The performance of the iShares Semiconductor ETF (SOXX) may be influenced by the performance of companies like AMD. As AMD is expected to report its Q3 results, this could potentially impact the ETF.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
AMD is expected to report a decrease in Q3 earnings and revenue. However, the stock has performed well this year, outperforming major indices.
While AMD's Q3 earnings are expected to decrease, the company's stock has been performing well this year, suggesting investor confidence. The earnings report could impact the stock's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Intel's Q3 results may indicate a potential double beat for AMD.
Intel's strong Q3 results may suggest a similar outcome for AMD, as the two companies operate in the same industry. However, this is speculative and should be taken with caution.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50