AMD Stock Crushes Earnings 🚀 Is AMD Stock a Buy Now? 🤷🏼♂️
Join Us: https://linktr.ee/FiredUpWealth AMD stock reported earnings after closing bell today, and shares are up over 6% after hours on the news. But is AMD stock a buy now? The company reported 71% sales growth in the first quarter with a beat on both top and bottom lines. AMD's earnings per share reported at $1.13 adjusted versus $0.91 expected, which is a staggering increase of 117% year-over-year. Revenues came in at $5.89 billion versus $5.52 billion, which popped 71% year-over-year. With supply chain issues and inflationary macroeconomic conditions, many analysts expected AMD to lower guidance. Perhaps the most impressive earnings announcement is that AMD expects $6.5 billion in sales in the current quarter, which outpaces analyst expectations of $6.38 billion. Raising guidance in the current economic environment certainly raised a few eyebrows, so let's dig deeper.
By the way, AMD stands for Advanced Micro Devices. AMD also announced that it repurchased $1.9 billion of its own stock in the quarter, which leaves $8.3 billion in remaining stock repurchase authorizations. AMD is involved in many secular growth trends including gaming, metaverse, crypto, data centers, cloud, and more, but can the company continue to impress at its current valuation? As of today’s closing, the stock was down nearly 40% this year, but it's climbing after hours. Is AMD stock a buy now? In the video below, I break down AMD earnings highlights. I also chart out AMD’s valuation and provide an opinion on where I think the stock is headed from here.
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Disclaimer:
I have been investing in the stock market for over 20 years, but I am not a financial advisor or a legal professional, and I am not providing financial or legal advice. The information provided is for informational purposes only. It should not be considered legal or financial advice. FIRED Up Wealth & Eric Cuka do not make any guarantee or other promise as to any results that may be obtained from using our content. No one should make any investment decision without first consulting his or her own financial advisor and conducting his or her own research and due diligence. Past performance is no guarantee of future results.
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