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Advanced Micro Devices (AMD) Ascends While Market Falls: Some Facts to Note
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Advanced Micro Devices (AMD - Free Report) closed the most recent trading day at $205.37, moving +1.33% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.37%. On the other hand, the Dow registered a loss of 0.18%, and the technology-centric Nasdaq decreased by 0.84%.
The stock of chipmaker has risen by 3.09% in the past month, leading the Computer and Technology sector's loss of 2.83% and the S&P 500's loss of 3.7%.
The investment community will be closely monitoring the performance of Advanced Micro Devices in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $1.27, reflecting a 32.29% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $9.84 billion, indicating a 32.32% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.61 per share and a revenue of $45.37 billion, representing changes of +58.51% and +30.98%, respectively, from the prior year.
Any recent changes to analyst estimates for Advanced Micro Devices should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.18% downward. At present, Advanced Micro Devices boasts a Zacks Rank of #3 (Hold).
Investors should also note Advanced Micro Devices's current valuation metrics, including its Forward P/E ratio of 30.66. This valuation marks a premium compared to its industry average Forward P/E of 20.7.
We can additionally observe that AMD currently boasts a PEG ratio of 0.65. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Computer - Integrated Systems industry held an average PEG ratio of 0.76.
The Computer - Integrated Systems industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 30, putting it in the top 13% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AMD in the coming trading sessions, be sure to utilize Zacks.com.
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Advanced Micro Devices (AMD) Ascends While Market Falls: Some Facts to Note
Advanced Micro Devices (AMD - Free Report) closed the most recent trading day at $205.37, moving +1.33% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.37%. On the other hand, the Dow registered a loss of 0.18%, and the technology-centric Nasdaq decreased by 0.84%.
The stock of chipmaker has risen by 3.09% in the past month, leading the Computer and Technology sector's loss of 2.83% and the S&P 500's loss of 3.7%.
The investment community will be closely monitoring the performance of Advanced Micro Devices in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $1.27, reflecting a 32.29% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $9.84 billion, indicating a 32.32% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.61 per share and a revenue of $45.37 billion, representing changes of +58.51% and +30.98%, respectively, from the prior year.
Any recent changes to analyst estimates for Advanced Micro Devices should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.18% downward. At present, Advanced Micro Devices boasts a Zacks Rank of #3 (Hold).
Investors should also note Advanced Micro Devices's current valuation metrics, including its Forward P/E ratio of 30.66. This valuation marks a premium compared to its industry average Forward P/E of 20.7.
We can additionally observe that AMD currently boasts a PEG ratio of 0.65. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Computer - Integrated Systems industry held an average PEG ratio of 0.76.
The Computer - Integrated Systems industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 30, putting it in the top 13% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AMD in the coming trading sessions, be sure to utilize Zacks.com.