From Nasdaq:

Advanced Micro Devices closed at $160.17 in the latest trading session, marking a +0.9% gain from the prior day, outpacing the S&P 500’s 0.56% daily loss. The stock has risen by 13.26% in the past month, leading the Computer and Technology sector’s gain of 1.27% and the S&P 500’s gain of 1.2%.

Investors are closely monitoring Advanced Micro Devices’ forthcoming earnings report on January 30, 2024. Analysts expect the company to post earnings of $0.77 per share, representing year-over-year growth of 11.59%. Revenue is projected to be $6.11 billion, up 9.2% from the year-ago period.

Recent changes to analyst estimates for Advanced Micro Devices usually signify changing near-term business trends. Positive estimate revisions may indicate optimism about the company’s business outlook. The Zacks Rank has a proven track record of outperformance, with a rank of #2 (Buy) for Advanced Micro Devices.

Advanced Micro Devices boasts a Forward P/E ratio of 43.62, representing a premium compared to the industry’s average Forward P/E of 28.5. The company also has a PEG ratio of 3.4, higher than the industry average of 3.06.

The Electronics – Semiconductors industry, where Advanced Micro Devices operates, has a Zacks Industry Rank of 103, putting it in the top 41% of all 250+ industries. This is significant, as top-rated industries usually outperform the bottom-rated ones.

Zacks Investment Research is offering 30-day access to all stock picks for $1. The access includes services like Surprise Trader, Stocks Under $10, Technology Innovators, and more. The company closed 162 positions with double- and triple-digit gains in 2023 alone.

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