Mini Magic (AMD Earnings)
Advanced Micro Devices (AMD) is set to announce its Q4 results today post-market close, followed by a conference call at 5:00pm ET.
FactSet consensus estimates a 12% year-over-year increase in adjusted EPS to $0.77 and a 9% rise in revenues to $6.13 billion.
AMD's own revenue forecast ranges from $5.8 to $6.4 billion, with expectations of strong growth in Data Center revenue in the coming quarters.
Despite the generally subdued demand outlook for 2024 among semiconductor companies, the market is optimistic about a rebound and a new growth cycle starting in 2025.
Investors should also monitor NVIDIA (NVDA) after AMD's report, as its performance may provide additional insights into the sector's dynamics. AMD's announcement could influence NVDA's stock, which hit all-time highs earlier in the session, marking a shift from its previous quarter's trend.
TECHS:
AMD's shares are currently down about 7% from last week's all-time highs. Since May 2021, the company's stock has surged over 100%, fueled by rising AI interest and other industry tailwinds. Its supplier, Taiwan Semi (TSM), recently exceeded Q4 earnings expectations and predicted a 20% year-over-year revenue growth for FY24, indicating a semiconductor industry recovery. ASML (ASML) and Lam Research (LRCX) also anticipate a significant industry rebound in 2025, with projected revenue reaching $1.0 trillion by 2029.
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