Is AMD A Buy Before Upcoming Earnings? 3 Key Considerations

Summary

  • AMD's stock has been on a tear this month, gaining close to 25% despite growing recession fears.
  • AMD stock gains also defied Intel's shortfall last week, which substantiated investors' confidence in its resilient market-share growth.
  • The combination of limited direct exposure to consumer spending, rising prominence in data center opportunities, and resilient market share gains reinforces another earnings surprise for AMD later this week.
  • The stock remains attractively positioned for favourable long-term upsides at current levels, with a highly anticipated earnings surprise later this week being a potential near-term catalyst in reinvigorating the uptrend.
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Semiconductor Maker Advanced Micro Systems Reports Quarterly Earnings

Justin Sullivan

Chip stocks have been on a steady recovery since the start of the second quarter, despite worsening signs of an economic slowdown – especially in the consumer end market. The Philadelphia Exchange Semiconductor Index (PHLX) has gained more than

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Disclosure: I/we have a beneficial long position in the shares of AMD, NVDA either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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