Finance
AMD earnings: Here’s what to expect
In this Sept. 10, 2007 file photo, a staff technician presents a 300 millimeter chip wafer at Advanced Micro Devices Inc. (AMD) in Dresden, eastern Germany.AP Photo/Matthias Rietschel
AMD is set to report third-quarter earnings after Wednesday’s closing bell.
Shares plunged 7% ahead of the results amid broader weakness in the tech sector. Shares have been under pressure this month — down more than 25% from its recent high set on September 14 — after rival Intel reportedly solved its 10 nanometer-chip production problems, and as a brutal stock-market sell-off ravaged the tech sector
Here’s what analysts are expecting, according to Bloomberg:
- Adjusted earnings per share: $0.12.
- Revenue: $1.7 billion.
While AMD shares have been under pressure recently, one analyst says a big year is coming in 2019 as its expected to roll out its 7 nm chips.
“We would add to positions on weakness and wait for 2019,” Mitch Steves, an RBC analyst, wrote in a note sent out to clients on Tuesday.
“We think the AMD story is a 2019/2020 story where the company could gain notable share in servers and potentially mid-high-end PCs as well. Finally, we emphasize that this continues to be a 2019 play given the timing of the 7nm product launch.”
AMD shares were up 110% this year through Wednesday.
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