Advanced Micro Devices (AMD - Free Report) shares ended the last trading session 8.3% higher at $158.74. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 5.5% gain over the past four weeks.
AMD is benefiting from portfolio strength and an expanding partner base. Strong demand for EPYC processors has been a growth driver.
This chipmaker is expected to post quarterly earnings of $0.77 per share in its upcoming report, which represents a year-over-year change of +11.6%. Revenues are expected to be $6.11 billion, up 9.2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Advanced Micro, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on AMD going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Advanced Micro is a member of the Zacks Electronics - Semiconductors industry. One other stock in the same industry, Nova Ltd. (NVMI - Free Report) , finished the last trading session 0.2% lower at $133.60. NVMI has returned 0.5% over the past month.
Nova Ltd.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.24. Compared to the company's year-ago EPS, this represents a change of -3.1%. Nova Ltd. currently boasts a Zacks Rank of #3 (Hold).
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This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
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Advanced Micro Devices (AMD - Free Report) shares ended the last trading session 8.3% higher at $158.74. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 5.5% gain over the past four weeks.
AMD is benefiting from portfolio strength and an expanding partner base. Strong demand for EPYC processors has been a growth driver.
This chipmaker is expected to post quarterly earnings of $0.77 per share in its upcoming report, which represents a year-over-year change of +11.6%. Revenues are expected to be $6.11 billion, up 9.2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Advanced Micro, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on AMD going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Advanced Micro is a member of the Zacks Electronics - Semiconductors industry. One other stock in the same industry, Nova Ltd. (NVMI - Free Report) , finished the last trading session 0.2% lower at $133.60. NVMI has returned 0.5% over the past month.
Nova Ltd.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.24. Compared to the company's year-ago EPS, this represents a change of -3.1%. Nova Ltd. currently boasts a Zacks Rank of #3 (Hold).
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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