AMD's Stock Drops 2.5% on Light Q1 Guidance, But It Raises 2024 Artificial Intelligence Chip Outlook
Shares of Advanced Micro Devices (NASDAQ: AMD) dropped 2.5% on Wednesday following the chipmaker's release on the prior afternoon of its fourth-quarter 2023 report. The stock's decline is largely attributable to guidance for the first quarter of 2024 coming in lighter than Wall Street had been expecting.
Q4's results themselves were pretty much in line with analysts' projections, with revenue slightly surpassing the consensus estimate and earnings hitting the expectation on the bull's-eye.
Data source: AMD. GAAP = generally accepted accounting principles. YOY = year over year.
Source Fool.com
Advanced Micro Devices Inc. Stock
€134.36
2.370%
The stock is one of the favorites of our community with 87 Buy predictions and 2 Sell predictions.
With a target price of 176 € there is a positive potential of 30.99% for Advanced Micro Devices Inc. compared to the current price of 134.36 €.
