What's Going On With AMD Stock?
Portfolio Pulse from Henry Khederian
AMD shares dropped 1.9% to $162.63, influenced by anticipation of NVIDIA's earnings report. Despite no specific news on AMD, its performance is closely watched in relation to NVIDIA's results, especially in the AI sector. AMD has shown a strong revenue growth of 38.27% annually over the past 5 years, with a forward P/E ratio of 49.51, higher than its peers' average of 30.46.
February 21, 2024 | 4:24 pm
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NEGATIVE IMPACT
AMD shares fell 1.9% to $162.63, potentially due to the upcoming NVIDIA earnings, reflecting the market's anticipation and its impact on AMD.
AMD's stock movement is likely influenced by the broader semiconductor market's anticipation of NVIDIA's earnings, given their competitive positions in the AI sector. The drop reflects investor sentiment and market dynamics ahead of NVIDIA's report.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
NVIDIA's upcoming earnings report is highly anticipated, affecting the broader market and companies like AMD. Analysts expect robust results, with a projected non-GAAP EPS of $4.64 and revenue of $20.62 billion.
NVIDIA's earnings are a significant event for the semiconductor industry, influencing investor sentiment and stock prices of related companies like AMD. Positive results could boost the sector, while any negative surprises might have a broader impact.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 80