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AMD Long

by SignalFactory   ·  August 2, 2022 | 12:55:12 UTC  

AMD Long

by SignalFactory   ·  August 2, 2022 | 12:55:12 UTC  

Despite consistent headwinds with chip supply chain challenges, semiconductor giant AMD continues to deliver strong operating results, while growing market share in several high-growth industries.

Whether it’s autonomous vehicles, entertainment, or healthcare, AMD’s processors are powering people and businesses at a cutting-edge level. What’s more, the company continues to benefit from secular cloud-driven growth within the data center, suggesting that issues related to rivals are their own to deal with. The company will report second quarter fiscal 2022 earnings results after the closing bell Tuesday. Investors will look to see whether its streak of earnings beats can continue.

For the three months that ended June, Wall Street expects the California-based company to earn $1.03 per share on revenue of $6.53 billion. This compares to the year-ago quarter when earnings were 63 cents per share on $3.85 billion in revenue. For the full year, ending in December, earnings are expected to surge 57% year over year to $4.39 per share, while full-year revenue of $26.21 billion would rise 59.5% year over year.

While the company continues to benefit from strong demand in gaming, it is within the data center and enterprise business segment where AMD continues to enjoy strong success. Whether it’s general-purpose computing, technical computing, or accelerated computing, AMD aims to deliver a full range of data center workloads that enable businesses to drive outcomes. The strong top and bottom line forecasts for the quarter and full year exemplify that level of success.

In the first quarter, the company beat on both the top and bottom lines with Q1 adjusted EPS of $1.13 which surpassed Street estimates by 20 cents, while Q1 revenue of $5.9 billion rose 71% year over year, topping estimates by $330 million. Notably, that strong revenue total only partially included revenue from the Xilinx acquisition which AMD closed in February. Just as impressive, the first quarter gross margin of 48% came in above estimates, while an operating margin of 16% yielded an operating income of $951 million.

The company expects no signs of slowing down, guiding for revenue to be approximately $6.5 billion, or almost 70% higher year over year and roughly 10% higher sequentially. All told, not only will the semiconductors remain a growth driver for almost every industry, AMD is poised to lead the way. As such, the decline in AMD stock is a solid buying opportunity. AMD on Tuesday must do its part and deliver another top and bottom line beat with strong guidance.

AMD Long (Buy)
Enter at: 98.46
T.P_1: 100.23
T.P_2: 104.11
T.P_3: 108.57
T.P_4: 111.71
S.L: 89.06

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