Top Analysts Slash AMD Stock Price Targets Despite Its Q1 Beat
Semiconductor company Advanced Micro Devices (AMD) released its earnings report after markets closed yesterday, and some traders might be wondering if now is the right time to buy AMD stock. First off, potential investors will note that AMD’s adjusted earnings per share of 96 cents and revenue of $7.44 billion beat Wall Streets’ estimates of 94 cents per share and $7.12 billion in revenue.
AMD also provided a guidance update in its latest earnings report. The company expects Q2 revenue to range from $7.1 billion to $7.7 billion. At a midpoint of $7.4 billion, this would surpass analysts’ revenue estimate of $7.24 billion.
Finally, AMD was in the news today after it revealed that Amazon (AMZN) bought 822,234 shares of its…
