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Advanced Micro Devices (AMD) Stock Sinks As Market Gains: What You Should Know
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In the latest market close, Advanced Micro Devices (AMD - Free Report) reached $165.27, with a -1.56% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.77% for the day. Elsewhere, the Dow saw an upswing of 0.47%, while the tech-heavy Nasdaq appreciated by 0.87%.
The the stock of chipmaker has risen by 10.23% in the past month, leading the Computer and Technology sector's gain of 6.36% and the S&P 500's gain of 4.87%.
The investment community will be paying close attention to the earnings performance of Advanced Micro Devices in its upcoming release. The company is forecasted to report an EPS of $0.91, showcasing a 30% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $6.71 billion, up 15.72% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $3.36 per share and a revenue of $25.57 billion, demonstrating changes of +26.79% and +12.76%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Advanced Micro Devices. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Advanced Micro Devices holds a Zacks Rank of #2 (Buy).
Investors should also note Advanced Micro Devices's current valuation metrics, including its Forward P/E ratio of 50. This represents a premium compared to its industry's average Forward P/E of 17.36.
Meanwhile, AMD's PEG ratio is currently 1.75. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Computer - Integrated Systems stocks are, on average, holding a PEG ratio of 3.37 based on yesterday's closing prices.
The Computer - Integrated Systems industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 66, positioning it in the top 27% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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) Stock Sinks As Market Gains: What You Should Know
In the latest market close, Advanced Micro Devices (AMD - Free Report) reached $165.27, with a -1.56% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.77% for the day. Elsewhere, the Dow saw an upswing of 0.47%, while the tech-heavy Nasdaq appreciated by 0.87%.
The the stock of chipmaker has risen by 10.23% in the past month, leading the Computer and Technology sector's gain of 6.36% and the S&P 500's gain of 4.87%.
The investment community will be paying close attention to the earnings performance of Advanced Micro Devices in its upcoming release. The company is forecasted to report an EPS of $0.91, showcasing a 30% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $6.71 billion, up 15.72% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $3.36 per share and a revenue of $25.57 billion, demonstrating changes of +26.79% and +12.76%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Advanced Micro Devices. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Advanced Micro Devices holds a Zacks Rank of #2 (Buy).
Investors should also note Advanced Micro Devices's current valuation metrics, including its Forward P/E ratio of 50. This represents a premium compared to its industry's average Forward P/E of 17.36.
Meanwhile, AMD's PEG ratio is currently 1.75. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Computer - Integrated Systems stocks are, on average, holding a PEG ratio of 3.37 based on yesterday's closing prices.
The Computer - Integrated Systems industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 66, positioning it in the top 27% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.