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AMD Price Prediction: Advanced Micro Devices Inc stock falls despite stellar earnings, chart looks bearishNEWS |
5/4/2021 10:05:51 AM GMT | By Ivan Brian
AMD released strong earnings on April 27 beating EPS.
The manufacturing giant s shares have fallen sharply since releasing strong results.
AMD also lifted outlook for the year ahead.
AMD posted strong results last week on April 27 which comfortably beat analyst expectations. Earnings per share for Q1 2021 were forecast by Wall Street analysts to come in at $0.44 but instead, AMD posted EPS of $0.52. Revenue was forecast to be $3.21 billion but the reported number again comfortably beat the forecasts, hitting $3.45 billion. Topping this, AMD also raised its guidance for the year ahead. AMD raised revenue growth forecasts to 50% from a previous 39%. AMD s CEO said the company was confident that it could source semiconductor chips to maintain growth despite a global shortage.