- The stock price of Advanced Micro Devices, Inc. (NASDAQ: AMD) increased 3.15% today. This is why it happened.
The stock price of Advanced Micro Devices, Inc. (NASDAQ: AMD) increased 3.15% today, going from a previous close of $102.95 to $106.19. This is a continuation of momentum as the company stock price increased over 15% in the past 5 trading days.
Investors have been responding positively to the company’s second-quarter results and the third quarter forecast this week.
For the quarter, AMD reported record revenues of $3.85 billion, up 99% year-over-year. And this was 12% higher compared than the previous quarter.
Adjusted EPS was $0.63, which is up 250% year-over-year.
In terms of the forecast, AMD is expecting revenue of $4.1 billion for the third quarter, plus or minus $100 million — which is an increase of about 46% year-over-year and about 6% quarter-over-quarter.
AMD is also in the process of buying Xilinx. And Xilinx reported strong earnings on Wednesday. Xilinx reported a record revenue of $879 million, representing 3% sequential growth and 21% annual growth despite the ongoing industry-wide supply chain challenges.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.
