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Advanced Micro Devices Inc. (NASDAQ: AMD): Surging Strong 1.45% In 2022, Outlook Strong

The trading price of Advanced Micro Devices Inc. (NASDAQ:AMD) floating higher at last check on Wednesday, June 22, closing at $84.92, 1.35% higher than its previous close.

Traders who pay close attention to intraday price movement should know that it has been fluctuating between $82.60 and $85.81. The company’s P/E ratio in the trailing 12-month period was 31.25, while its 5Y monthly beta was 1.86. In examining the 52-week price action we see that the stock hit a 52-week high of $164.46 and a 52-week low of $79.43. Over the past month, the stock has lost -13.32% in value.

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Advanced Micro Devices Inc., whose market valuation is $136.58 billion at the time of this writing, is expected to release its quarterly earnings report Jul 25, 2022 – Jul 29, 2022. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $1.03 per share this quarter, however they have predicted annual earnings per share of $4.4 for 2022 and $5.01 for 2023. It means analysts are expecting annual earnings per share growth of 57.70% this year and 13.90% next year.

Analysts have forecast the company to bring in revenue of $6.53 billion for the current quarter, with the likely lows of $6.5 billion and highs of $6.7 billion. The average estimate suggests sales will likely up by 69.50% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2022 is $26.33 billion. The company’s revenue is forecast to grow by 60.20% over what it did in 2022.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Advanced Micro Devices Inc. No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest AMD has a 50% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Sell, while an average of long term indicators suggests that the stock is currently 100% Sell.

Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned AMD a recommendation rating is 41. Out of them, 13 rate it a Hold, while 22 recommend Buy, whereas 5 assign an Overweight rating. 0 analyst(s) have tagged Advanced Micro Devices Inc. (AMD) as Underweight, while 1 advise Sell. Analysts have rated the stock Overweight, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.

If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 0.95, which symbolizes a positive outlook. A quick review shows that AMD’s price is currently -11.31% off the SMA20 and -9.58% off the SMA50. The RSI metric on the 14-day chart is currently showing 39.45, and weekly volatility stands at 4.83%. When measured over the past 30 days, the indicator reaches 5.56%. Advanced Micro Devices Inc. (NASDAQ:AMD)’s beta value is currently sitting at 1.87, while the Average True Range indicator is currently displaying 5.73. With analysts defining $80.00-$230.00 as the low and high price targets, we arrive at a consensus price target of $135.30 for the trailing 12-month period. The current price is about 5.79% off the estimated low and -170.84% off the forecast high, based on this estimate. Investors will be thrilled if AMD’s share price rises to $135.00, which is the median consensus price. At that level, AMD’s share price would be -58.97% below current price.

To see how Advanced Micro Devices Inc. stock has been performing today in comparison to its peers in the industry, here are the numbers: AMD stock’s performance was 1.35% at last check in today’s session, and 1.45% in the past year, while NVIDIA Corporation (NVDA) has been trading -0.51% in recent session and positioned -10.10% lower than it was a year ago. Another comparable company Intel Corporation (INTC) saw its stock trading -0.58% lower in today’s session but was down -32.47% in a year. Furthermore, Applied Materials Inc. (AMAT) showed a decrease of -0.24% today while its price kept declining at -28.47% over the past year. Advanced Micro Devices Inc. has a P/E ratio of 31.25, compared to NVIDIA Corporation’s 44.45 and Intel Corporation’s 6.27. Also during today’s trading, the S&P 500 Index has surged 0.59%, while the Dow Jones Industrial also saw a positive session, up 0.34% today.

An evaluation of the daily trading volume of Advanced Micro Devices Inc. (NASDAQ:AMD) indicates that the 3-month average is 108.52 million. However, this figure has increased over the past 10 days to an average of 94.74 million.

Currently, records show that 1.39 billion of the company’s shares remain outstanding. The insiders hold 0.30% of outstanding shares, whereas institutions hold 68.10%. The stats also highlight that short interest as of May 30, 2022, stood at 40.38 million shares, resulting in a short ratio of 0.29 at that time. From this, we can conclude that short interest is 2.49% of the company’s total outstanding shares. It is noteworthy that short shares in May were up slightly from the previous month’s figure, which was 30.36 million. However, since the stock’s price has seen -41.77% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.

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