Is AMD a Buy?
Advanced Micro Devices' (NASDAQ: AMD) year went from bad to worse after the company released preliminary results for the third quarter of 2022 on Oct. 6. Shares of the chipmaker fell over 13%.
AMD investors pressed the panic button hard after the company revealed that its quarterly revenue would land at an estimated $5.6 billion at the midpoint of its updated guidance range. The company originally expected $6.7 billion in Q3 revenue, but a weak PC (personal computer) market has knocked the wind out of AMD's sails.
Thanks to the latest setback, AMD stock has now lost nearly 60% of its value in 2022 and is trading at 52-week lows. Investors may be tempted to buy this high-flying chipmaker following its sharp pullback. It is trading at an attractive valuation and set to grow impressively despite the PC market's weakness.
Source Fool.com
