AMD Needs a Big Quarter to Keep Its Stock Afloat

Advanced Micro Devices (NASDAQ: AMD) beat analyst estimates when it last reported quarterly results in July, with that performance driven by its Ryzen CPUs (central processing units), and GPU (graphics processing unit) demand from cryptocurrency miners. AMD will try to provide an encore performance on Tuesday, when it reports its third-quarter results after the market close.

Ryzen and cryptocurrency-related demand will continue to act as tailwinds, and the launch of high-end Vega graphics cards in August will provide another source of growth. The stock has more than doubled over the past year on the expectation that these new products would push revenue and profits through the roof. AMD now needs to deliver.

Image source: AMD.

Source: Fool.com