AMD stock closed lower despite market gains, but analysts are optimistic about company's business

From Nasdaq: 2024-07-09 17:45:18

Advanced Micro Devices (AMD) closed at $177.10, down 0.89%. Stock has jumped 11.44% in past month, outperforming sector and S&P 500. Earnings per share projected to be $0.66, revenue expected to be $5.71 billion. Analysts optimistic about company’s business and profitability.

AMD is currently a Zacks Rank #3 (Hold) with a Forward P/E ratio of 52.39, higher than industry average. PEG ratio is 1.58, lower than industry average. Electronics – Semiconductors industry has Zacks Industry Rank of 207. Top 50% rated industries outperform bottom half by 2 to 1.

Zacks Experts identify little-known chemical company as “Single Best Pick to Double.” Stock up 65% over past year with potential for more growth. Could rival recent high-performing stocks like Boston Beer Company and NVIDIA. Retail investors may want to explore this opportunity for significant upside potential.



Read more at Nasdaq: Advanced Micro Devices (AMD) Stock Sinks As Market Gains: What You Should Know