Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     

ADVANCED MICRO DEVICES, INC.

(AMD)
  Report
Delayed Nasdaq  -  04:00 2022-10-05 pm EDT
67.94 USD   +0.06%
12:05pWells Fargo Adjusts Advanced Micro Devices' Price Target to $90 from $130
MT
06:30aGoldman Sachs Cuts Price Target on Advanced Micro Devices to $88 From $112, Citing Near-Term PC Headwinds, Lower Peer Multiples; Buy Rating Kept
MT
10/03Samsung Elec to triple advanced chip production by 2027, sees robust demand
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Wall St set to open lower after chipmaker Micron's dour warning

08/09/2022 | 09:04am EDT

(For a Reuters live blog on U.S., UK and European stock markets, click or type LIVE/ in a news window.)

* Micron tempers forecast as demand weakness deepens

* Novavax falls 31% after cutting revenue view by half

* Futures down: Dow 0.01%, S&P 0.23%, Nasdaq 0.62%

Aug 9 (Reuters) - Wall Street was set to open lower on Tuesday after a dismal forecast from Micron Technology dragged chip stocks lower, while investors remained cautious ahead of inflation data that will feed into the U.S. Federal Reserve's rate-hike plans.

A high inflation print on Wednesday, following last week's strong jobs numbers, will likely push the Fed to continue with jumbo rate hikes and weigh on a recent recovery in stocks.

Traders are expecting a 71.5% chance of the Fed raising interest rates by 75 basis points in September, its third such big hike.

Growth and technology stocks, whose valuations are sensitive to rising bond yields, slipped as U.S. Treasury yields climbed, with Alphabet Inc and Apple Inc down 0.6% each.

Micron Technology Inc fell 4.1% as the memory-chip maker cut fourth-quarter revenue forecast and warned of a negative free cash flow in the following three months as demand for chips used in personal computers and smartphones drop.

Peers Nvidia and Advanced Micro Devices fell 2.8% and 2.0%, respectively, extending the previous session's sharp declines after a revenue warning from Nvidia.

The Philadelphia Semiconductor Index is down 23.9% so far this year, lagging the broader tech-heavy Nasdaq index.

"Markets are still treating these things as companies specific. If you get enough similar warnings, investors will start to treat it as sector specific and if that goes on further then it will become market specific," said Michael Shaoul, chief executive officer at Marketfield.

Shaoul said trading volumes remained lower due to summer and "it really doesn't take a lot of capital to push over yields or the S&P".

Despite a choppy recovery since mid-June, the benchmark index is down 13% this year after hitting a record high in early January as surging prices, hawkish central banks, geopolitical tensions weigh on sentiment.

Stronger-than-expected earnings from corporate America have been a positive, with 77.5% of S&P 500 companies beating earnings estimates, according to the Refinitiv data as of Friday.

At 08:44 a.m. ET, Dow e-minis were down 2 points, or 0.01%, S&P 500 e-minis were down 9.5 points, or 0.23%, and Nasdaq 100 e-minis were down 81.5 points, or 0.62%.

Novavax slumped 31.3% after the drugmaker halved its annual revenue forecast as it does not expect further sales of its COVID-19 shot this year in the United States in the face of a global supply glut and soft demand. (Reporting by Bansari Mayur Kamdar and Aniruddha Ghosh in Bengaluru; Editing by Saumyadeb Chakrabarty and Arun Koyyur)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ADVANCED MICRO DEVICES, INC. 0.06% 67.94 Delayed Quote.-52.81%
ALPHABET INC. -0.21% 101.43 Delayed Quote.-29.83%
APPLE INC. 0.21% 146.4 Delayed Quote.-19.78%
MICRON TECHNOLOGY, INC. 1.43% 54.73 Delayed Quote.-42.07%
NVIDIA CORPORATION 0.32% 132.09 Delayed Quote.-55.23%
All news about ADVANCED MICRO DEVICES, INC.
12:05pWells Fargo Adjusts Advanced Micro Devices' Price Target to $90 from $130
MT
06:30aGoldman Sachs Cuts Price Target on Advanced Micro Devices to $88 From $112, Citing Near..
MT
10/03Samsung Elec to triple advanced chip production by 2027, sees robust demand
RE
10/03Meta Platforms Launches Tools to Help Developers Switch Between Different Chips
MT
10/03Meta launches AI software tools to ease switching between Nvidia, AMD chips
RE
10/03Meta launches AI software tools to help speed up work - Blog
RE
09/30White House official says details on AI chip export rule coming soon
RE
09/30Social Buzz: Wallstreetbets Stocks Up Premarket, With Exception of Nike; Mic..
MT
09/28Dow, S&P 500 set to open higher on lower yields, Apple slides
RE
09/28Futures fall as Apple drops production increase, falling yields limit losses
RE
More news
Analyst Recommendations on ADVANCED MICRO DEVICES, INC.
More recommendations
Financials (USD)
Sales 2022 26 133 M - -
Net income 2022 3 863 M - -
Net cash 2022 6 467 M - -
P/E ratio 2022 26,4x
Yield 2022 -
Capitalization 110 B 110 B -
EV / Sales 2022 3,95x
EV / Sales 2023 3,28x
Nbr of Employees 15 500
Free-Float 98,5%
Chart ADVANCED MICRO DEVICES, INC.
Duration : Period :
Advanced Micro Devices, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ADVANCED MICRO DEVICES, INC.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 41
Last Close Price 67,94 $
Average target price 118,83 $
Spread / Average Target 74,9%
EPS Revisions
Managers and Directors
Lisa T. Su Chairman, President & Chief Executive Officer
Devinder Kumar Chief Financial Officer, Treasurer & Executive VP
Mark D. Papermaster CTO, Executive VP-Technology & Engineering
Hasmukh Ranjan Chief Information Officer & Senior Vice President
Keivan Keshvari Senior Vice President-Global Operations
Sector and Competitors
1st jan.Capi. (M$)
ADVANCED MICRO DEVICES, INC.-52.81%109 612
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED-27.64%351 385
NVIDIA CORPORATION-55.23%327 727
BROADCOM INC.-27.89%194 344
TEXAS INSTRUMENTS-12.37%150 899
QUALCOMM, INC.-35.90%137 422