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Advanced Micro (AMD) Moves 8.8% Higher: Will This Strength Last?
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Advanced Micro Devices (AMD - Free Report) shares rallied 8.8% in the last trading session to close at $126.39. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 0.9% loss over the past four weeks.
AMD is benefiting from robust Data Center and Client revenues that fully offset sluggishness in the Gaming and Embedded segments.
This chipmaker is expected to post quarterly earnings of $0.56 per share in its upcoming report, which represents a year-over-year change of -18.8%. Revenues are expected to be $7.41 billion, up 27% 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 19.9% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate 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.
Advanced Micro is a member of the Zacks Computer - Integrated Systems industry. One other stock in the same industry, Agilysys (AGYS - Free Report) , finished the last trading session 0.6% higher at $109.95. AGYS has returned 27.1% over the past month.
For Agilysys, the consensus EPS estimate for the upcoming report has changed +26.8% over the past month to $0.39. This represents a change of +30% from what the company reported a year ago. Agilysys currently has a Zacks Rank of #3 (Hold).
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Advanced Micro (AMD) Moves 8.8% Higher: Will This Strength Last?
Advanced Micro Devices (AMD - Free Report) shares rallied 8.8% in the last trading session to close at $126.39. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 0.9% loss over the past four weeks.
AMD is benefiting from robust Data Center and Client revenues that fully offset sluggishness in the Gaming and Embedded segments.
This chipmaker is expected to post quarterly earnings of $0.56 per share in its upcoming report, which represents a year-over-year change of -18.8%. Revenues are expected to be $7.41 billion, up 27% 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 19.9% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate 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 #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Advanced Micro is a member of the Zacks Computer - Integrated Systems industry. One other stock in the same industry, Agilysys (AGYS - Free Report) , finished the last trading session 0.6% higher at $109.95. AGYS has returned 27.1% over the past month.
For Agilysys, the consensus EPS estimate for the upcoming report has changed +26.8% over the past month to $0.39. This represents a change of +30% from what the company reported a year ago. Agilysys currently has a Zacks Rank of #3 (Hold).