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Advanced Micro Devices (AMD) Suffers a Larger Drop Than the General Market: Key Insights
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Advanced Micro Devices (AMD - Free Report) closed at $100.01 in the latest trading session, marking a -1.77% move from the prior day. This change lagged the S&P 500's daily loss of 0.17%. On the other hand, the Dow registered a loss of 0.58%, and the technology-centric Nasdaq increased by 0.27%.
Shares of the chipmaker witnessed a gain of 5.83% over the previous month, beating the performance of the Computer and Technology sector with its loss of 2.16% and the S&P 500's loss of 3.95%.
Analysts and investors alike will be keeping a close eye on the performance of Advanced Micro Devices in its upcoming earnings disclosure. The company's earnings report is set to go public on October 31, 2023. On that day, Advanced Micro Devices is projected to report earnings of $0.68 per share, which would represent year-over-year growth of 1.49%. Alongside, our most recent consensus estimate is anticipating revenue of $5.71 billion, indicating a 2.53% upward movement from the same quarter last year.
AMD's full-year Zacks Consensus Estimates are calling for earnings of $2.74 per share and revenue of $22.81 billion. These results would represent year-over-year changes of -21.71% and -3.33%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Advanced Micro Devices. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.07% lower. Currently, Advanced Micro Devices is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Advanced Micro Devices is currently trading at a Forward P/E ratio of 37.18. This signifies a premium in comparison to the average Forward P/E of 25.23 for its industry.
One should further note that AMD currently holds a PEG ratio of 4.15. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. AMD's industry had an average PEG ratio of 4.12 as of yesterday's close.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 149, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Advanced Micro Devices (AMD) Suffers a Larger Drop Than the General Market: Key Insights
Advanced Micro Devices (AMD - Free Report) closed at $100.01 in the latest trading session, marking a -1.77% move from the prior day. This change lagged the S&P 500's daily loss of 0.17%. On the other hand, the Dow registered a loss of 0.58%, and the technology-centric Nasdaq increased by 0.27%.
Shares of the chipmaker witnessed a gain of 5.83% over the previous month, beating the performance of the Computer and Technology sector with its loss of 2.16% and the S&P 500's loss of 3.95%.
Analysts and investors alike will be keeping a close eye on the performance of Advanced Micro Devices in its upcoming earnings disclosure. The company's earnings report is set to go public on October 31, 2023. On that day, Advanced Micro Devices is projected to report earnings of $0.68 per share, which would represent year-over-year growth of 1.49%. Alongside, our most recent consensus estimate is anticipating revenue of $5.71 billion, indicating a 2.53% upward movement from the same quarter last year.
AMD's full-year Zacks Consensus Estimates are calling for earnings of $2.74 per share and revenue of $22.81 billion. These results would represent year-over-year changes of -21.71% and -3.33%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Advanced Micro Devices. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.07% lower. Currently, Advanced Micro Devices is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Advanced Micro Devices is currently trading at a Forward P/E ratio of 37.18. This signifies a premium in comparison to the average Forward P/E of 25.23 for its industry.
One should further note that AMD currently holds a PEG ratio of 4.15. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. AMD's industry had an average PEG ratio of 4.12 as of yesterday's close.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 149, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.