This Tech Stock Is a Screaming Buy Following 70% Growth Last Quarter
Advanced Micro Devices (NASDAQ: AMD) went into its second-quarter earnings report facing multiple headwinds in the form of a big slowdown in sales of personal computers (PCs) and softness in graphics card prices, but its numbers turned out to be better than expected.
AMD reported eye-popping growth when it released its results on Aug. 2, easing past consensus estimates thanks to the terrific demand for its chips that are used in data centers, computers, and gaming consoles, among others. Though the outlook was lighter than what Wall Street was looking for, AMD is on track to deliver outstanding growth in 2022. More importantly, it could sustain its hot growth for a long time to come, thanks to a bunch of impressive catalysts.
Let's see how AMD performed last quarter and why the stock remains an enticing bet right now.
Source Fool.com
