AMD Shares Rebound 7% Premarket After 17% Rout: Here's What's Happening
Mohd Haider 10 hours ago
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AMD shares jump 5.28% in premarket trading after strong quarterly results, with revenue and earnings beating analyst expectations.
Advanced Micro Devices Inc. (NASDAQ:AMD) shares are trending on Friday.
Shares of the California-based semiconductor company jumped 7.07% to $433.01 in pre-market trading on Friday.
On Thursday, the stock closed at $404.40, down 17.26%. Memory chipmaker Micron Technology Inc. (NASDAQ:MU) tumbled 17.46% on Thursday
AMD Q3 Earnings Beat Estimates on Data-Center Strength
AMD reported third-quarter results on Tuesday. Revenue for the period came in at $13.38 billion, beating the analyst estimate of $13.10 billion by 2.13%.
Earnings per share were $2.09, topping the expected $1.89 by 10.6%.
AMD’s data-center revenue rose 97% from a year earlier to $8.55 billion.
Trading Metrics, Technical Analysis
AMD has a market capitalization of about $660.17 billion. Over the past 52 weeks, its stock has traded as high as $658.52 and as low as $188.22.
The Relative Strength Index (RSI) of AMD stands at 29.75.
The stock has gained 70.13% over the past 12 months.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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