Advanced Micro Devices Inc. (NASDAQ: AMD) Could Soar To Much Higher Prices In Coming Months

In the last trading session, 43.11 million Advanced Micro Devices Inc. (NASDAQ:AMD) shares changed hands as the company’s beta touched 1.68. With the company’s per share price at $121.53 changed hands at $0.91 or 0.75% during last session, the market valuation stood at $196.33B. AMD’s last price was a discount, traded about -9.3% off its 52-week high of $132.83. The share price had its 52-week low at $60.05, which suggests the last value was 50.59% up since then. When we look at Advanced Micro Devices Inc.’s average trading volume, we note the 10-day average is 53.35 million shares, with the 3-month average coming to 55.85 million.

Analysts gave the Advanced Micro Devices Inc. (AMD) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.68. If we narrow down to specifics, the data shows that 0 out of 44 analysts rate the stock as a Sell, with a further 4 assigning it an Overweight rating. Of the remaining, 13 recommended AMD as a Hold, 27 felt it is a Buy and 0 rated the stock as Underweight. Advanced Micro Devices Inc.’s EPS for the current quarter is expected to be $0.71.

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Advanced Micro Devices Inc. (NASDAQ:AMD) trade information

Instantly AMD was in green as seen at the end of in last trading. With action 4.06%, the performance over the past five days has been green. The jump to weekly highs of 122.11 on Monday, 11/20/23 added 0.75% to the stock’s daily price. The company’s shares are showing year-to-date upside of 87.63%, with the 5-day performance at 4.06% in the green. However, in the 30-day time frame, Advanced Micro Devices Inc. (NASDAQ:AMD) is 19.37% up. Looking at the short shares, we see there were 31.51 million shares sold at short interest cover period of 0.6 days.

The consensus price target for the stock as assigned by Wall Street analysts is $132.00, meaning bulls need an upside of 7.93% from its current market value. According to analyst projections, AMD’s forecast low is $98.00 with $200.00 as the target high. To hit the forecast high, the stock’s price needs a -64.57% plunge from its current level, while the stock would need to tank 19.36% for it to hit the projected low.

Advanced Micro Devices Inc. (AMD) estimates and forecasts

Data shows that the Advanced Micro Devices Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 12.53% over the past 6 months, a -24.29% in annual growth rate that is considerably lower than the industry average of -10.60%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Advanced Micro Devices Inc. will rise 2.90%, while the growth in revenue is estimated to hit 5.00% for the next quarter. Year-over-year growth is forecast to reach -12.20% down from the last financial year.

Consensus estimates given by 29 financial analysts project the company’s revenue in the current quarter to hit an average of $5.61 billion. 27 analysts are of the opinion that Advanced Micro Devices Inc.’s revenue for the quarter ending Mar 2024 will be $5.29 billion. The company’s revenue for the corresponding quarters a year ago was $5.6 billion and $5.35 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 0.10%. The estimates for the next quarter sales put growth at -1.20%.

The 2023 estimates are for Advanced Micro Devices Inc. earnings to decrease by -25.25%, but the outlook for the next 5-year period is at 9.80% per year.

AMD Dividends

Advanced Micro Devices Inc. is expected to release its next quarterly earnings report between January 29 and February 02.

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