AMD Stock Is Rising Wednesday After The Bell: What's Going On?
Portfolio Pulse from Adam Eckert
AMD shares are trading higher in after-hours trading in sympathy with Nvidia, which reported strong first-quarter earnings, increased its dividend, and announced a 10-for-1 stock split.
May 22, 2024 | 9:13 pm
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AMD shares are trading higher in after-hours trading in sympathy with Nvidia's strong first-quarter earnings report, which included a revenue beat, increased guidance, a dividend hike, and a 10-for-1 stock split.
AMD shares are benefiting from positive sentiment in the semiconductor sector driven by Nvidia's strong earnings report and optimistic future guidance. As both companies compete in similar markets, Nvidia's success is seen as a positive indicator for AMD.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Nvidia reported strong first-quarter earnings, beating revenue and earnings estimates, and provided strong guidance for the second quarter. The company also announced a 10-for-1 stock split and a 150% increase in its dividend.
Nvidia's strong earnings report, increased guidance, and shareholder-friendly actions like the stock split and dividend hike are likely to drive the stock price higher in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100