What's Going On With AMD Stock Wednesday?
Portfolio Pulse from Adam Eckert
Advanced Micro Devices (AMD) shares are trading lower following the company's Q3 financial results. Despite beating revenue and EPS estimates, multiple analysts lowered price targets. Data center revenue was flat YoY, client revenue was up 42% YoY, gaming revenue was down 8% YoY, and embedded revenue was down 5% YoY. AMD expects Q4 revenue of approximately $6.1 billion, representing growth of about 9% at the midpoint.
November 01, 2023 | 12:41 pm
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AMD's stock is trading lower despite beating Q3 estimates. Analysts have lowered price targets, which may have contributed to the stock's decline.
AMD's Q3 earnings beat estimates, but the stock is trading lower. This could be due to analysts lowering their price targets for the stock, which can negatively impact investor sentiment and lead to selling pressure.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100