The recent brief tech stock dip ended as second-quarter earnings reaffirmed tech’s market leadership. Indeed, the AI, cloud, and fintech sectors have been driving the tech sector in the past two years, driving more growth for the market. This makes tech stocks appear to be attractive investments at this point in the cycle.Within the S&P 500 and Nasdaq indexes, tech stocks continue to be the superstars. That’s largely due to the scalability and high growth these companies provide.Stocks that dip shouldn’t be ...

Advanced Micro Devices (NASDAQ: AMD) reported its Q2 earnings on July 30, showcasing a strong performance during the previous quarter that surpassed analysts’s expectations and potentially motivated Cathie Wood, CEO of Ark Invest (ARKK), to invest a substantial amount in this semiconductor stock.Namely, on July 31, Ark Invest reported a purchase of 328,527 AMD shares worth approximately $47.5 million, according to the latest closing price on July 31, thus increasing Ark Invest’s overall holding of AMD share ...

JHVEPhoto What Happened Advanced Micro Devices' (NASDAQ:AMD) stock had a strong rebound following its 2Q earnings report. Initially, the stock rallied by 12%, but the gain moderated to 7% the next day. This intraday pullback was even more overshadowed by NVIDIA's (NVDA) 12% rally. This indicates less robust upside momentum for AMD, as the stock has remained below the 200-day MA. In my previous coverage, I issued a sell rating on the stock due to concerns that the company's strong growth in the data cent ...

交银国际研究 公司更新 科技 2024 年 7 月 31 日 收盘价 目标价 潜在涨幅 美元 138.44 美元 200.00 +44.5% 超微半导体 (AMD US) AI 加速芯片持续加速；重申买入 2Q24 业绩和 3Q24 指引双双超市场预期：AMD 公布 2Q24 业绩，2Q24 单 季收入 58.4 亿美元（同比上涨 9%，环比上涨 7%），符合我们的预测，略 高于 Visible Alpha（VA）一致预期 57.4 亿美元。经营利润率 22%，符合我 们的预测，略高于 VA 一致预期 21.9%。调整后 EPS 0.69 美元，基本符合我 们的预测，略高于VA 一致预期0.68 美元。公司指引3Q24E 单季收入64-70 亿美元，中位数 67 亿美元符合我们的预测，略高于 VA 一致预期 66 亿美 元。 数据中心和客户端业务驱动业绩上升：数据中心业务表现突出，收入同比 上涨 115%至 28 亿美元。如我们在首次覆盖报告中提到的，这主要是因为 数据中心 GPU 加速芯片 MI300X 放量（管理层称对公司收入贡献达到 10 亿 美元）和 EYPC CPU 等传统业务复苏及市场份额上升所驱 ...

报告公司投资评级 - 维持"买入"评级 [7] 报告的核心观点 数据中心业务表现亮眼 1) 数据中心业务实现收入 28.3 亿美元，环比+21%，营业利润 7.4 亿美元，环比+37%，营业利润率同比提升 15 个百分点达 26%。业绩增长主要由于 MI300 系列产品出货加速（MI300 系列产品单季度营收首次突破 10 亿美元）和第四代 EPYC 系列产品销量两位数百分比的增长。公司将 2024 年数据中心 GPU 营收指引由 40 亿美金至 45 亿美元。[5] 2) 公司力争每年发布算力新品，新一代 MI 325X 系列产品有望在 24Q4 推出；基于 CDNA 4 架构的 MI350 系列产品有望在 2025 年发布，基于下一代 CDNA 的 MI400 系列产品预计于 2026 年推出。此外，公司持续增强对 AI 大模型的软件支持能力，目前多个合作伙伴均开始使用 ROCm 和 MI300X 支持的 Llama 3.1 模型，包括 4050 亿参数版本。同时公司完成对欧洲最大私人 AI 实验室 Silo AI 的收购，有助于加速公司训练和推理解决方案的优化。[5] 客户端业务保持高增长 1) 公司客户端业务收入 14.9 亿美元，同比+49%，营业利润 0.9 亿美元，同比扭亏，主要受 Ryzen 系列出货量增长拉动。公司发布第三代面向 AI PC 的 Ryzen AI 300 系列处理器，其拥有行业领先的 50 TOPs 处理能力，华硕、惠普、联想等知名 OEM 厂商均实现适配，未来伴随 AI 驱动 PC 需求复苏及公司市占率提升，客户端业务有望受益。[6] 游戏及嵌入式业务承压 1) 公司游戏业务收入 6.5 亿美元，同比-59%，营业利润 0.8 亿美元，同比-66%，主要系半定制化产品销售下降；嵌入式业务收入 8.6 亿美元，同比-41%，营业利润 3.5 亿美元，同比-54%，主要系客户持续去库存。[6] 盈利预测与投资评级 1) 我们认为公司在不断更新算力硬件产品的同时，持续在配套软件及网络互联领域布局，有望在 AI 算力市场获得稳定份额，维持 2024-2026 年 Non-GAAP 净利润 63.2/107.1/124.9 亿元的预期，美国时间 7 月 30 日收盘价对应 Non-GAAP PE 分别为 35.5/21.0/18.0 倍，维持"买入"评级。[7] 风险提示 1) AI 算力需求不及预期； 2) 产品性能与竞争对手差距拉大； 3) 客户端业务竞争加剧。[8]

As we continue receiving quarterly results from big tech firms, AMD (AMD)  stands out after exceeding its Q2 top and bottom line expectations Tuesday evening.With AMD shares spiking over +10% in this morning's trading session, investors may be wondering if it’s time to buy stock in the chip leader following its favorable Q2 Report.AMD’s Q2 Results AMD’s Q2 growth was driven by its Instinct, Ryzen, and EPYC processors which accelerate AI workloads. Designed to compete with Nvidia’s (NVDA)  AI chips, the Inst ...

The market rotation out of AI winners (mostly chip stocks) has gotten extreme in recent days. This change in investor sentiment comes after a period of significant outperformance by these companies, including the best chip stocks like Nvidia (NASDAQ:NVDA), AMD (NASDAQ:AMD), Broadcom (NASDAQ:AVGO) and Micron Technology (NASDAQ:MU), particularly over the past 12 to 18 months. This trend reversal has taken place over the last few days, with mega-cap stocks receding from their high valuations while the average ...

ToplineRenewed optimism for battered semiconductor chip stocks, coupled with a friendlier Federal Reserve giving its biggest indication yet lower interest rates are on the horizon, sent stocks surging Wednesday.Chip, chip, hooray! The iShares Semiconductor exchange-traded fund (SOXX) rose more than 5%, its ... [+] steepest gain since May 2023.Getty Images Key FactsThe S&P 500 rose 1.6%, its best day since Feb. 22 and second-best day of the year, and the tech-concentrated Nasdaq jumped 2.6%, also tallying it ...

Advanced Micro Devices (AMD) reported second-quarter 2024 non-GAAP earnings of 69 cents per share, beating the Zacks Consensus Estimate by 2.99%. The figure surged 19% year over year. Revenues of $5.84 billion beat the Zacks Consensus Estimate by 2.2% and increased 9% year over year, as well as 7% sequentially. The top-line growth benefited from robust Data Center and Client revenues that fully offset sluggishness in the Gaming and Embedded segments.AMD shares were up roughly 9.41% in pre-market trading, gi ...

Advanced Micro Devices, Inc. AMD saw its shares surge in its stock price following its second-quarter earnings report, which exceeded expectations.The semiconductor giant reported earnings of $0.69 per share, surpassing the consensus estimate of $0.68, and sales of $5.835 billion, also ahead of the $5.724 billion forecast. Here's how analysts from top firms reacted to AMD's latest performance.BofA Securities: Cautious Optimism Amidst Rising CostsBofA Securities analyst Vivek Arya maintains a Buy rating but ...