AMD's stock has seen significant growth over the past decade, rising 5,110% as it gained market share against Intel and Nvidia. Despite a flat performance in the last year due to a cooling PC market, AMD's revenue is expected to rise 22% year-over-year in Q4, driven by its expanding data center business and new product launches. Analysts project strong growth for 2025, making AMD an attractive investment compared to its competitors.
Cramer described the recent analyst downgrade of AMD as 'cogent,' yet he remains optimistic about the stock's potential. Lisa Su, the chair and CEO of Advanced Micro Devices, made an appearance at the 2023 CES event in Las Vegas on January 4, highlighting the company's ongoing initiatives.
Jim Cramer has declared AMD stock a buy following Intel's unexpected CEO retirement, highlighting AMD's competitive edge. At the AMD Advancing AI event, CEO Lisa Su introduced new accelerator chips designed to outperform rival offerings in running artificial intelligence software.
The Nasdaq Composite reached a new high, with notable stock movements including a 1.2% rise for Microsoft and a 27% increase for Meta Platforms over the past three months. Advanced Micro Devices saw a 7% drop in after-hours trading despite a strong earnings report, while Eli Lilly and other pharma companies are set to report soon. Homebuilders are struggling, with the SPDR S&P Homebuilders ETF down 8.6% since mid-October, reflecting rising yields impacting the sector.
AMD reported record revenue of $6.8 billion for Q3, an 18% increase year-over-year, driven by strong data center sales, particularly in Epyc CPUs and Instinct GPUs. However, the forecast for Q4 disappointed investors, estimating revenue at $7.5 billion amid supply chain constraints. The gaming segment struggled, with a 69% revenue drop, while net income rose 33% to $1.5 billion.
AMD reported third-quarter earnings of 92 cents per share on $6.82 billion in revenue, slightly exceeding expectations, but shares fell 6% due to cautious fourth-quarter guidance. The data center business saw a 122% year-over-year revenue increase, driven by strong AI chip sales, while gaming revenue plummeted 68%. Despite a 20% rise in shares this year, AMD lags behind competitors like Nvidia and Broadcom in AI chip market gains.
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