Increased Earnings Estimates Seen for Advanced Micro Devices (AMD): Can It Move Higher?
Advanced Micro Devices, Inc. (AMD), the stock in the Technology sector could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on AMD’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Advanced Micro Devices could be a solid choice for investors.
Current Quarter Estimates for AMD
In the past 30 days, 1 estimate has gone higher for Advanced Micro Devices. The trend has been pretty favorable too, with estimates improving from a loss of 1 cent to breakeven.
Current Year Estimates for AMD
Meanwhile, Advanced Micro Devices’ current year figures are also looking quite promising, with 2 estimates moving higher in the past month. The consensus estimate trend has also seen a boost for this time frame, increasing from 12 cents per share 30 days ago to 13 cents per share today, an increase of 8.3%.
Bottom Line
The stock has also started to move higher lately, adding 8.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future.
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ADVANCED MICRO DEVICES INC (AMD): Free Stock Analysis Report
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