Advanced Micro Devices, Inc.’s stock price dips to $167.88, marking a 3.64% decline: A deep dive into AMD’s market performance

Advanced Micro Devices, Inc. (AMD)

167.88 USD -6.35 (-3.64%) Volume: 68.33M

Advanced Micro Devices, Inc.’s stock price stands at 167.88 USD, witnessing a drop of -3.64% this trading session with a trading volume of 68.33M. Despite the dip, AMD’s stock maintains a positive YTD growth of +13.89%, showcasing its resilience in the market.

Latest developments on Advanced Micro Devices, Inc.

Advanced Micro Devices (AMD) stock movements today are influenced by a series of key events. The company’s upgraded 2024 AI guidance, its potential to rival Nvidia in the semiconductor race, and the unveiling of the Embedded+ architecture for edge AI hardware have been highlighted as reasons to buy the stock. Despite underperforming compared to competitors on Tuesday, AMD stock retains an Outperform rating with a $195 target from Northland. Charles Schwab Investment Management Inc. and Alpine Woods Capital Investors LLC have increased their stakes in AMD, indicating continued investor confidence.

Advanced Micro Devices, Inc. on Smartkarma

According to recent analyst coverage on Smartkarma, Advanced Micro Devices (AMD) is continuing its strong growth trend. The company’s Q4 2023 revenues were $6.2 billion, up 6% from the previous quarter and 10% from the previous year. Q1 2024 guidance is also positive, with expected revenues of $5.4 billion, a 13% increase from the previous quarter. Analysts forecast that AMD’s data center growth will exceed 70% year-over-year in 2024, with potential for further upside. This growth is driven by the company’s strong performance in the data center market and its entrance into the AI acceleration segment.

One analyst, William Keating, believes that the party is just getting started for AMD. In his recent report, he highlights the company’s impressive Q3 2023 results and forecasts that their MI300 product will hit over $2 billion in revenue in 2024, making it the fastest product ramp in the company’s history. This bullish sentiment is shared by other analysts, who see AMD’s renewed data center market share growth and entrance into the AI acceleration segment as major drivers for continued success.

Baptista Research also notes AMD’s strong performance in the AI market, with over 50 notebook designs powered by Ryzen AI and collaboration with Microsoft on the next Windows generation. Despite a decline in revenue compared to the previous year, the company’s data center segment saw a sequential growth of 21% in Q4 2023. This, along with other strategic executions and achievements, showcases AMD’s potential for continued success in the AI market.

A look at Advanced Micro Devices, Inc. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Advanced Micro Devices (AMD) is a company that makes computer chips and other electronic devices. They work with other companies to make and sell their products. Recently, they have been given a score of 2 out of 5 for value, meaning they may not be the best choice for investors looking for a good deal. They also have a score of 1 for dividend, which means they may not be paying out much money to their shareholders. However, they have a score of 2 for growth, which means they may have potential to grow and make more money in the future. They also have a score of 3 for resilience, meaning they may be able to withstand challenges and keep their business going. And finally, they have a score of 5 for momentum, which means they may be doing well and gaining attention from investors. Overall, the outlook for AMD is positive, with potential for growth and a strong performance in the market.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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