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Advanced Micro Devices, Inc. (AMD) is due to report earnings after the closing bell on January 24, 2012. Below we can see the results of Advanced Micro Devices over the last few earnings periods.

Advanced Micro Devices, Inc. operates as a semiconductor company in the United States, Japan, China, and Europe. The company was founded in 1969 and is based in Sunnyvale, California. AMD trades an average of 11.3 million shares per day.

52 Week High: $9.58
52 Week Low: $4.31
Book Value: $2.50

Analysts are expecting an improvement of $0.01 in earnings per share compared to last quarter's results of $0.15. The number to beat is $0.16 per share, based on the estimated mean earnings. Analyst estimates range between $0.07 and $0.20 per share. While I don't follow AMD as closely as Intel (INTC), I believe AMD is likely to beat the mean estimate and come in closer to the top.

The P/E ratio has dropped, as the current trailing twelve months P/E ratio is 13, while the forward P/E ratio is now 10.13. It appears based on the lower PE that investors are pricing in less growth. I am bullish on both AMD and Intel for long term holdings. I prefer Intel over AMD, but that is more a reflection of the time I spend researching Intel over AMD.

While AMD seems to play second fiddle to Intel most of the time, AMD does pull a fast round-around once in a while and actually provide leadership for some products. I never short and sometimes buy AMD. For short-term bargain buys on dips, I do like it.

For the same fiscal period year-over-year, revenue has improved to $6.49 billion for 2010 vs. $5.40 billion for 2009. The bottom line has rising earnings year-over-year of $471.00 million for 2010 vs. $293.00 million for 2009.The company's earnings before interest and taxes are rising, with an EBIT year-over-year of $848.00 million for 2010 vs. $664.00 million for 2009.Rising revenue along with rising earnings is a very good sign and what we want to see with our companies. Be sure to check the margins to make sure that the bottom line is keeping up with the top line.

Here is a look at the fiscal year revenue:

paid2trade.com revenue gross bar chart for AMD

Gross reported revenue compared to the mean estimate (rounded):

Fiscal Quarter Ending Month-Year Revenue Estimates Actual $ Difference Difference %
Sep-11 $ 1.65 B $ 1.69 B $ 38.30 M 2.32%
Jun-11 $ 1.58 B $ 1.57 B $ -2.07 M -0.13%
Mar-11 $ 1.61 B $ 1.61 B $ 1.28 M 0.08%
Dec-10 $ 1.63 B $ 1.65 B $ 18.43 M 1.13%
Sep-10 $ 1.61 B $ 1.62 B $ 4.08 M 0.25%

M = millions, B = billions.
Differences are rounded.
Some one-time items are often excluded in reported EPS.

paid2trade.com Quarterly Estimates And Actual EPS results AMD Reported earnings per share compared to the mean estimate. Differences are rounded.

The total short interest number of shares for AMD:

paid2trade.com short interest tool. The total short interest number of shares for AMD

The number of days to cover short interest based on average daily trading volume for AMD:

paid2trade.com number of days to cover short interest based on average daily trading volume for AMD

RF Micro Devices, Inc.
(RFMD) is scheduled to release last fiscal quarter's results after the closing bell on January 24, 2012. Let's take a look at how RF Micro Devices has done in recent quarters.

RF Micro Devices, Inc. designs, develops, manufactures, and markets radio frequency components and compound semiconductor technologies in the United States and internationally. The company was founded in 1991 and is headquartered in Greensboro, North Carolina. RFMD trades an average of 6.7 million shares per day.

52 Week High: $8.48
52 Week Low: $4.41
Book Value: $2.50
Float Short: 9.37%

On average, analysts are expecting a drop of $-0.09 in earnings per share compared to last quarter's results of $0.11. The reporting quarter's estimated mean earnings are $0.02 per share.

After the bloodletting a couple of weeks ago with the company warning the stock is recovering very nicely. The major moving averages are moving lower, though, and all things considered, the chart just does not look very happy. I would be concerned the recent move higher is little more than a dead cat bounce and very diligent about diligence. At least today's move closes the gap and a move higher on Monday would be very encouraging. I certainly would not short into earnings and with almost 10% of shares shorted already, it could squeeze regardless of the report.

The company has rising revenue year-over-year of $1.05 billion for 2011 vs. $978.39 million for 2010. The bottom line has rising earnings year-over-year of $124.56 million for 2011 vs. $71.02 million for 2010. The company's earnings before interest and taxes are rising, with an EBIT year-over-year of $139.52 million for 2011 vs. $106.41 million for 2010.

Here is a look at the fiscal year revenue:

paid2trade.com revenue gross bar chart for RFMD

Gross reported revenue compared to the mean estimate (rounded):

Fiscal Quarter Ending Month-Year Revenue Estimates Actual $ Difference Difference %
Sep-11 $ 229.57 M $ 243.81 M $ 14.24 M 6.2%
Jun-11 $ 209.57 M $ 214.19 M $ 4.62 M 2.2%
Mar-11 $ 214.52 M $ 213.33 M $ -1.19 M -0.55%
Dec-10 $ 285.86 M $ 278.79 M $ -7.07 M -2.47%
Sep-10 $ 275.95 M $ 285.79 M $ 9.84 M 3.57%

M = millions, B = billions.
Differences are rounded.
Some one-time items are often excluded in reported EPS.

paid2trade.com Quarterly Estimates And Actual EPS results RFMD Reported earnings per share compared to the mean estimate. Differences are rounded.

The total short interest number of shares for RFMD:

paid2trade.com short interest tool. The total short interest number of shares for RFMD

The number of days to cover short interest based on average daily trading volume for RFMD:

paid2trade.com number of days to cover short interest based on average daily trading volume for RFMD

Altera Corporation (ALTR) is scheduled to release last fiscal quarter's results after the closing bell on January 24, 2012. . The company was founded in 1983 and is headquartered in San Jose, California. ALTR trades an average of 4.4 million shares per day.

52 Week High: $49.59
52 Week Low: $30.39
Book Value: $8.84
Float Short: 3.11%

On average, 23 analysts are expecting a drop of $-0.16 in earnings per share compared to last quarter's results of $0.57. Investors will be looking to see a number north of $0.41 per share, based on the earnings estimates.Analyst estimates range between $0.38 and $0.45 per share.

The chart looks promising. the stock broke through the 200 day moving average this week and today's test (so far) held higher. The faster moving averages are trending higher, and even the 200 has basically found support.

For the same fiscal period year-over-year, revenue has improved to $1.95 billion for 2010 vs. $1.20 billion for 2009. The bottom line has rising earnings year-over-year of $782.88 million for 2010 vs. $251.06 million for 2009.

The company's earnings before interest and taxes are rising with an EBIT year-over-year of $861.50 million for 2010 vs. $292.77 million for 2009.Rising revenue along with rising earnings is a very good sign and what we want to see with our companies. Be sure to check the margins to make sure that the bottom line is keeping up with the top line.

Here is a look at the fiscal year revenue:

paid2trade.com revenue gross bar chart for ALTR

Gross reported revenue compared to the mean estimate (rounded):

Fiscal Quarter Ending Month-Year Revenue Estimates Actual $ Difference Difference %
Sep-11 $ 541.57 M $ 522.47 M $ -19.10 M -3.53%
Jun-11 $ 548.77 M $ 548.38 M $ -0.39 M -0.07%
Mar-11 $ 536.48 M $ 535.81 M $ -0.67 M -0.12%
Dec-10 $ 547.63 M $ 555.38 M $ 7.75 M 1.42%
Sep-10 $ 525.98 M $ 527.45 M $ 1.47 M 0.28%

M = millions, B = billions.
Differences are rounded.
Some one-time items are often excluded in reported EPS.

paid2trade.com Quarterly Estimates And Actual EPS results ALTR Reported earnings per share compared to the mean estimate. Differences are rounded.

The total short interest number of shares for ALTR:

paid2trade.com short interest tool. The total short interest number of shares for ALTR

The number of days to cover short interest based on average daily trading volume for ALTR:

paid2trade.com number of days to cover short interest based on average daily trading volume for ALTR

I use a proprietary blend of technical analysis, financial crowd behavior, and fundamentals in my short-term trades, and while not totally the same in longer swing trades to investments, the concepts used are similar. You may want to use this article as a starting point of your own research with your financial planner. I use Seeking Alpha, Edgar Online, and Yahoo Finance for most of my data. I use the confirmed symbols from earnings.com that I believe to be of the most interest.

Source: Earnings Preview: Semiconductors AMD, FR Micro, Altera Report Results Tuesday