Advanced Micro Devices Inc. (AMD): Stock Performance and Analyst Sentiment

Recent Market Performance

AMD's stock price has rebounded in recent days after a sell-off on Friday. The company's stock reached a 52-week low of 81.02 on April 29, 2024. The rebound is likely due to positive analyst sentiment and the recent announcement of a rate cut by the Federal Reserve.

Analyst Sentiment

Analysts are generally positive on AMD's stock. Benzinga reported three days ago that Nvidia and AMD stocks were rebounding due to the rate cut and increased demand for AI technologies. Analysts believe that AMD is well-positioned to benefit from the growing demand for artificial intelligence and cloud computing.

Earnings Results

AMD is scheduled to report its quarterly earnings results later this month. Analysts are expecting the company to report earnings per share (EPS) of $0.50 for the quarter. This would represent a decrease from the $0.56 EPS reported in the same quarter last year. However, analysts believe that AMD's long-term growth prospects are still strong.