And by the way, those are all non-GAAP results. That would indicate a slight decline from 60 per share in 2023’s first quarter, and a huge fall-off from $1.05 per share in the year-earlier quarter. The company is set to report its second-quarter earnings results in the coming weeks.Īnalysts, on average, are calling for AMD to report quarterly earnings of 58 per share.
Thus, AMD’s GAAP trailing 12-month price-to-earnings (P/E) ratio is quite high, at 488.17x.Ĭonsequently, while AMD can run higher in the long term, the near-term growth prospects may be limited.Ĭiti analyst Christopher Danely, just to provide one expert’s opinion, recently issued a “neutral” rating and an unambitious $120 price target on AMD stock.ĭanely expects “downside to estimates driven by the correction in the data center/gaming/embedded markets (84% of C23E sales).”ĪMD’s Quarterly Earnings Won’t Be Spectacularĭanely’s commentary is an example of Wall Street’s downbeat near-term expectations for AMD. Everybody and his uncle already knows that AMD has powerful chips for AI applications.
However, none of this is a secret on Wall Street. Plus, AMD has new and improved solutions for cloud computing and for emulation and prototyping. The company is committed to advancing AI-compatible hardware projects. Investors shouldn’t ignore AMD, but there’s also no urgent need to load up on the shares.Ĭlearly, AMD is willing and able to meet the market’s demands for next-generation tech components. CEO Lisa Su’s leadership helped the company gain market share among chip makers over the past few years. However, the stock gets a “B” grade now as it won’t be so easy to maintain that momentum.ĪMD is still a solid company with good long-term future prospects. On the back of strong demand for artificial intelligence compatible technology, AMD stock ran fast and far in 2023’s first half. Without a doubt, investors like Advanced Micro Devices (NASDAQ: AMD) stock, commonly known as just AMD, because of its top-notch tech hardware.
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