Is AMD Stock a Buy Now?
Advanced Micro Devices' (NASDAQ: AMD) stock price dropped 6% during after-hours trading on May 2 following its first-quarter report. The chipmaker's revenue fell 9% year over year to $5.35 billion but exceeded analysts' estimates by $40 million. Its adjusted net income dropped 39% to $970 million, or $0.60 per share, which also topped the consensus forecast by four cents.
AMD cleared Wall Street's low bar, which had been set to account for the PC market's post-pandemic slowdown, but the market didn't seem convinced that it had reached its cyclical trough yet. Nevertheless, AMD's stock now trades nearly 50% below its all-time high from November 2021 -- so could it actually be a contrarian buy for patient investors?
AMD CEO Lisa Su speaks at a recent company conference. Image source: AMD.
Source Fool.com
Advanced Micro Devices Inc. Stock
Our community is currently high on Advanced Micro Devices Inc. with 113 Buy predictions and 5 Sell predictions.
With a target price of 520 € there is a positive potential of 24.18% for Advanced Micro Devices Inc. compared to the current price of 418.75 €.
