BUZZ-PREVIEW: AMD likely to report strong quarterly results on AI chip demand
NVIDIA Corporation NVDA | 0.00 | |
Broadcom Limited AVGO | 0.00 | |
Advanced Micro Devices, Inc. AMD | 0.00 | |
NASDAQ IXIC | 0.00 |
** Shares of Advanced Micro Devices AMD.O rise 3.8% to $354.37 ahead of its quarterly earnings report due after markets close
** AMD's revenue is expected to rise 33% to nearly $10 bln, driven by strong growth in chips for data centers, while adjusted EPS is seen rising 35% to $1.29 versus 96 cents a year ago
** AMD's revenue and adjusted EPS have met or exceeded analyst expectations over the last eight quarters
** AMD is among U.S. chipmakers, including Nvidia NVDA.O and Broadcom AVGO.O, that are at the forefront of data center demand, driving the AI boom
** 52 analysts covering AMD give it an average rating of "BUY" and a median PT of $300, per LSEG data
** AMD is up 65.7% YTD vs Nasdaq Composite Index's .IXIC 8.9% increase