From Nasdaq: 2024-04-26 03:39:14

Advanced Micro Devices (NASDAQ: AMD) is set to report Q1 FY’24 results with expected adjusted revenues between $5.1 billion to $5.7 billion, up to 7% from last year. Despite a mixed performance in early 2023, AMD could benefit from growing PC demand and AI chip needs, with a focus on AI with new chips.

AMD stock has fluctuated, with gains of 65% since early 2021. The company’s GPU sales are crucial, especially with the rising demand for AI. AMD could potentially outperform, with a focus on AI applications. However, uncertain macroeconomic conditions could impact performance, making it essential to closely monitor AMD’s stock movement.

With a high multiple at 44x consensus 2024 earnings, AMD trades at a premium. The ongoing PC market recovery and AI demand justify this, with potential for future growth. Valuing AMD stock at $145 per share, further analysis will follow Q1 results to track AMD’s performance and potential market impact.



Read more at Nasdaq: How Will AMD’s AI Business Fare In Q1?