Analysts Are Betting on AMD Stock After Major Q1 Revenue Spike

InvestorPlace2022-05-05

Advanced Micro Devices(NASDAQ:AMD) stock is up over 9% today after the chipmaker reported first-quarter results that handily beat analysts’ expectations.AMD reportedQ1 earnings per share(EPS) of $1.13...

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Comments

Prost
2022-05-05
Prost
great fundamental stocks
blessed_1
2022-05-05
blessed_1
Thanks
Aeron2020
2022-05-05
Aeron2020
ok
Andrina A
2022-05-05
Andrina A
Ok
R Lim
2022-05-05
R Lim
Ok
Geoz88
2022-05-05
Geoz88
Yes

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The company’s revenue totaled $5.89 billion, compared to estimates for $5.52. Looking ahead, AMD forecast $6.5 billion in sales in the current second quarter. This also came in ahead of analyst expectations of $6.38 billion.Every one of AMD’s individual lines of business reported double-digit growth during Q1. In particular, AMD said it benefitted from strong sales of its server chips that primarily compete against Intel(NASDAQ:INTC). AMD has also gained traction from sales of microchips used in personal computers (PCs), which rose 33% on an annual basis, and cloud server sales, which increased 88% to $2.5 billion.AMD also said it completed its $35 billion acquisition of Xilinx in February of this year, and that it bought back $1.9 billion of its own stock during the first quarter. 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