What's Going On With AMD Stock?

Advanced Micro Devices, Inc. AMD shares are trading marginally lower by 0.9% to $175.10, off the session high of $180.33, during Friday’s session. The stock initially gained Friday in sympathy with peer semiconductor company Applied Materials, Inc. shares are trading higher after the company reported better-than-expected first-quarter financial results and issued second-quarter guidance.

What Happened With AMAT Earnings?

Applied Materials exceeded analyst expectations with quarterly earnings of $2.13 per share (11.52% above estimates) and sales of $6.71 billion (3.55% above estimates). Despite a slight decrease in sales compared to the same period last year, the company generated $2.33 billion in cash from operations and distributed $966 million to shareholders through share repurchases and dividends.

CEO Gary Dickerson noted the company’s strong performance, marking the fifth consecutive year of outperforming their markets…Read More

AMD Stock Prediction 2024

Advanced Micro Devices revenue growth in FY23 was -3.9%, reflecting the influence of various factors including the macroeconomic environment, demand for its products and services, and its position relative to competitors. This growth is a critical indicator for investors assessing the company’s future prospects.

Some macro factors that could impact the company's performance in the next year include higher interest rates, progress on reeling in inflation and labor market strength. The Fed's benchmark rate is currently at 5.33%, while PPI recently came in at 0.3%, growing 0.9% from last year. The unemployment rate was most recently reported as 3.7%.

An investor should pay attention to economic conditions to decide whether they think the macro environment is positive or negative for Advanced Micro Devices stock. For real time economic data and breaking market updates, check out Benzinga Pro. Try it for free.

How does this stack up against Advanced Micro Devices's peers?

Investors may also want to analyze a stock in comparison to companies with similar products or in similar industries. Advanced Micro Devices operates in the Information Technology sector. The stock has experienced average annual growth of 25.04% compared to the 8.76% average of its peer companies. This is above the broader sector movement of Advanced Micro Devices.

AMD has a 52-week high of $184.92 and a 52-week low of $75.92.