Shares of Advanced Micro Devices (NASDAQ: AMD) surged over 12% after the chipmaker reported a 16% increase in revenue to $5.6 billion in the fourth quarter. Strong performance in data center and embedded divisions offset weakness in client and gaming segments. AMD’s adjusted earnings per share rose by 25% to $3.50 in 2022.

AMD’s data center revenue jumped 42% to $1.7 billion, driven by strong sales of EPYC server processors. The company’s embedded segment revenue skyrocketed nearly twenty-fold to $1.4 billion. Despite a 7% decline in gaming revenue, AMD’s CEO Lisa Su remains optimistic about the company’s future growth and market share gains.

During an interview with CNBC, Su projected that the first quarter would be the bottom for AMD’s PC-related business, with growth expected in the following quarters. Su also expressed confidence in AMD’s ability to outperform competitors in its key markets. The Motley Fool’s analysts have identified ten stocks they believe are better buys than Advanced Micro Devices.

Read more at Nasdaq: Why AMD Stock Soared Today