'AMD's Results Proved Our Plan To Reinvest In The Stock Was Right,' Says Jim Cramer Who Credits Lisa Su As Key Factor In Chip Makers Success
Portfolio Pulse from Benzinga Neuro
AMD's second-quarter results exceeded expectations, leading to a significant surge in its stock price. Revenue rose by 9% to $5.84 billion, and adjusted earnings per share increased by 19% to 69 cents. The company's data center business and new AI chip, MI300X, were pivotal. Jim Cramer praised CEO Lisa Su for the success. AMD's stock jumped over 7% in after-hours trading.
July 31, 2024 | 2:55 am
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
AMD's strong Q2 results and advancements in AI come during a pivotal earnings week for tech giants, including Apple. While not directly impacted, the positive sentiment in the tech sector may benefit Apple.
AMD's strong performance contributes to positive sentiment in the tech sector, which may indirectly benefit Apple. However, the direct impact on Apple's stock is minimal.
CONFIDENCE 60
IMPORTANCE 40
RELEVANCE 20
NEUTRAL IMPACT
AMD's strong Q2 results and advancements in AI come during a pivotal earnings week for tech giants, including Amazon. While not directly impacted, the positive sentiment in the tech sector may benefit Amazon.
AMD's strong performance contributes to positive sentiment in the tech sector, which may indirectly benefit Amazon. However, the direct impact on Amazon's stock is minimal.
CONFIDENCE 60
IMPORTANCE 40
RELEVANCE 20
NEUTRAL IMPACT
AMD's strong Q2 results and positive guidance, particularly in AI, come amid concerns about potential cutbacks in orders from Microsoft. The positive performance may alleviate some market concerns.
While AMD's strong performance is positive, the potential impact on Microsoft is less direct. The news may alleviate some concerns about order cutbacks, but the overall impact on Microsoft's stock is likely neutral.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 30
NEUTRAL IMPACT
AMD's strong Q2 results and advancements in AI, particularly with the MI300X chip, highlight increased competition for Nvidia. While AMD's stock surged, Nvidia remains a key competitor in the AI chip market.
AMD's advancements in AI and strong earnings report indicate increased competition for Nvidia. However, the immediate impact on Nvidia's stock may be neutral as the market digests the news.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
AMD's Q2 results exceeded expectations, with revenue rising by 9% to $5.84 billion and adjusted EPS increasing by 19% to 69 cents. The company's data center business and new AI chip, MI300X, were key contributors. Jim Cramer praised CEO Lisa Su for the success, leading to a 7% surge in AMD's stock in after-hours trading.
The strong earnings report and positive guidance, particularly in the AI sector, led to a significant increase in AMD's stock price. Jim Cramer's endorsement and the market's reaction further validate the positive outlook.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100