From Nasdaq:

In the first quarter of 2024, AMD reported a 66% increase in revenue to $4.6 billion, exceeding analysts’ estimates of $4.51 billion. The company also reported a net income of $548 million, up from $222 million in the same period last year. This positive performance has contributed to AMD’s strong stock position, indicating potential for further growth in the coming year.

Tatevosian attributes AMD’s successful quarter to its expanding portfolio of products and strong demand in key markets. The company’s growth in revenue was primarily driven by increased sales in its computing and graphics segment, which saw a 54% year-over-year increase. AMD’s CEO Lisa Su also expressed optimism about the company’s performance in the future, further boosting investor confidence in the stock.

In addition to its impressive financial results, AMD also announced plans to launch new products in 2024, including next-generation processors and graphics cards. This innovation-driven approach has created positive sentiment surrounding the company, with analysts and investors alike expressing excitement about AMD’s potential for further growth and market expansion.

As a result of these developments, Tatevosian reaffirms his bullish outlook on AMD stock, emphasizing its strong performance and potential for long-term growth. With a combination of robust financial results, strategic product launches, and optimistic market sentiment, AMD has positioned itself as a top stock to buy in 2024, presenting a compelling investment opportunity for investors seeking growth in the technology sector.



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