Posted 1/4/2024, 10:45:18 PM
AMD Stock Outperforms Market Despite High Valuation Ahead of Anticipated Strong Earnings Growth
- AMD stock closed higher despite market dip, outpacing S&P 500, Dow, and Nasdaq
- Upcoming AMD earnings anticipated to show strong growth vs last year (11.59% EPS, 9.2% revenue)
- AMD estimate revisions signal optimism about business outlook and stock performance
- AMD currently has premium valuation (P/E 37.3) compared to industry average P/E of 27.8
- AMD's industry group ranks in bottom 20% by Zacks (202 of 250+), lagging top 50% by 2x