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$AMD Was a very good report and guidance. Sold off as markets through a tantrum over AI chips still in Q4.. 120 level to clear, 108 has been good support
By: Options Mike | August 6, 2023
• $AMD Was a very good report and guidance. Sold off as markets through a tantrum over AI chips still in Q4.. that has been the consistent message.
120 level to clear, 108 has been good support.
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Morgan Stanley sees a buying opportunity in AMD after earnings selloff
By: Investing.com | August 4, 2023
Morgan Stanley analysts see an attractive setup in Advanced Micro Devices (NASDAQ:AMD) stock in response to the post-earnings selloff.
AMD stock fell 7% on Wednesday after the company reported second-quarter results. Analysts blamed the weakness on high expectations for high-end MI300 chips, as well as “somewhat conservative 2024 data center commentary in callbacks.”
“The AMD quarter should have been a relief, given near universal sentiment that they would guide well below expectations for servers (they didn't), and that their expectation for margin recovery in PCs was unrealistic (it wasn't),” they said in a client note.
“Guidance for flat y/y servers in 3q - up 15-20% q/q - with clear eyes about the current cloud weakness should be an indication that share gains and the delayed Genoa ramp are in good shape. We expected the stock to be up meaningfully,” the analysts added.
Overall, they believe AMD will be “a significant outperformer” relative to other chip stocks.
AMD stock recovered half of Wednesday's losses yesterday and is up a further 0.4% in early Friday trading.
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KEY LEVWELS FOR AMD PIVOTAL POINT https://lussosnews.com/exclusive-amd-stock-approaching-key-bullish-level
AMD Stock - Unusual Stock Options Activity In Out-Of-The-Money Puts - A Bullish Sign
By: Barchart | August 3, 2023
Traders are piling into out-of-the-money (OTM) put options of Advanced Micro Devices (AMD) stock. This comes from Barchart's Unusual Stock Options Report today. It is actually a bullish sign as traders shorting these puts believe that the stock won't likely fall to this OTM strike price.
The Report comes after Advanced Micro Devices just reported its Q2 results on Aug. 1. The results were somewhat disappointing. Revenue was flat from the prior quarter and down 18.3% from a year ago.
Moreover, its free cash flow (FCF) was lower at $254 million compared to $328 million in the prior quarter and $906 million a year ago.
As a result, AMD stock is down today about $7 from its prior price and is trading below $110 in morning trading on Aug. 10 ($109.91), down from $117.60 the day before.
Put Trading Soars
The Barchart Report shows that there were over 2300 put options contracts traded at the $97 strike price. They had an average price of $1.58 for the period ending Sept. 8.
This period is 37 days from now and the strike price is well below today's spot price, almost $13 out-of-the-money from $109.91, or 11.75% below it.
8-2-23 - Barchart Unusual Stock Options Report
As a result, it seems clear that much of that volume could be from short sellers who are trying to take advantage of the bearish sentiment in AMD stock. For example, by selling short these puts, with just over one month until expiration, the traders can make an immediate yield of 1.623% (i.e., $1.58/$97.00 strike price).
That means that if the trader can repeat this 12 times a year, the annualized return will be about 20% (19.55%). That is a very good use of capital, especially since the OTM width is very high.
For example, AMD stock would have to fall to $95.42 (i.e., $97-$1.58), or over 13% before the trader has any kind of unrealized loss.
Contrarian Play
Granted, there is a lot to be upset about with the AMD results, as pointed out above. Moreover, the company gave a tepid outlook, given the slowdown in PC markets.
For example, management projected that Q3 revenue would be just 2.5% higher on a Y/Y basis. In addition, it projected a modest increase in its operating expenses. That essentially means that free cash flow might not really recover.
Moreover, the company seems to have paused its share buyback program, as no stock repurchases were made during the quarter.
However, some feel that AMD stock could still have further to go. As a result, those shorting these OTM puts can be seen as a bullish sign. In effect, it is a contrarian play.
For example, analysts still project significantly higher earnings for the year ending Dec. 2024. Based on analysis and surveys at Seeking Alpha, AMD stock is trading at 42.6x earnings this year and just 27.9x for next year.
This is significantly lower than AMD's average P/E multiple for the past five years. Morningstar shows that its average has been 38.5x, well over the 27.9x multiple for 2024.
As a result, shorting these OTM puts could be a good long-term play, even if AMD stock endures some short-term weakness for the time being.
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History of $AMD ’s Q2 Revenue
By: Savvy Trader | August 2, 2023
• History of $AMD ’s Q2 Revenue
2009: $1.2B
2010: $1.7B
2011: $1.6B
2012: $1.4B
2013: $1.2B
2014: $1.4B
2015: $942M
2016: $1B
2017: $1.2B
2018: $1.8B
2019: $1.5B
2020: $1.9B
2021: $3.9B
2022: $6.6B
2023: $5.3B
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Options Bulls Play Advanced Micro Devices (AMD) Stock Pullback
By: Schaeffer's Investment Research | August 2, 2023
• Advanced Micro Devices stock is lower despite a top-line beat
• A dismal current-quarter outlook is weighing on AMD today
Advanced Micro Devices, Inc. (NASDAQ:AMD) stock is down 4.6% at $112.20 at last check, brushing off a second-quarter earnings and revenue win. Instead, what's weighing on the AMD seems to be the chipmaker's lackluster third-quarter revenue forecast amid a slowdown in cloud computing spending. However, the company revealed plans to debut an artificial intelligence (AI) chip by the end of the year, and posted an upbeat forecast for the end of 2023.
In response, Citigroup upgraded the stock to "buy" from "neutral" and raised its price target to $136 from $120, with five other analysts issuing price-target hikes as well. Support from the $110 region is containing today's pullback, while the stock's 80-day moving average looks poised to contain any moves lower, too. Year-to-date, AMD still boasts a 73.1% lead.
The options pits are exploding with activity. So far, 547,000 calls and 284,000 puts have already crossed the tape, which is four times the intraday average volume. Most popular is the weekly 8/4 120-strike call, followed by the 110-strike put in that same series, with positions opening at both.
This penchant for bullish bets fits the mold, per AMD's 50-day call/put volume ratio of 2.02 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks higher than all readings from the past year.
Now looks like a good time to weigh in with options. The equity's Schaeffer's Volatility Scorecard (SVS) sits at 95 out of 100, implying it has exceeded option traders' volatility expectations over the past year.
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Early #13F filing data shows institutional investors overall remain bullish in Q2, led by Baillie Gifford, a top buyer in the 1st half of 2023. Many top hedge funds have already built significant positions
By: HedgeMind | August 1, 2023
• $AMD up in a.h. after Q2 earnings results.
Early #13F filing data shows institutional investors overall remain bullish in Q2, led by Baillie Gifford, a top buyer in the 1st half of 2023.
Many top hedge funds have already built significant positions.
https://hedgemind.com/stocks/AMD
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Advanced Micro Devices $AMD's Q2 visualized
By: Evan | August 1, 2023
• $AMD's Q2 visualized.
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AMD forecasts challenger to Nvidia AI chip to launch in 4th quarter, shares rise
By: Investing.com | August 1, 2023
(Reuters) -Advanced Micro Devices on Tuesday forecast a strong fourth quarter and expects to have artificial-intelligence hardware that can challenge Nvidia (NASDAQ:NVDA) chips by then.
Shares were up roughly 3.5% in after-hours trading.
AMD CEO Lisa Su said AMD is set to ramp production of its MI300 artificial-intelligence chips in the fourth quarter. The MI300 AI accelerator chips are designed to compete against the advanced H100 chips already sold by Nvidia, though they are in short supply.
Su said customer interest in the company's MI300 series chips is "very high" and that AMD expanded its work with "top-tier cloud providers, large enterprises and numerous leading AI companies" during the third quarter.
Investors are betting AMD could one day challenge Nvidia in the surging market for advanced AI chips when AMD releases a competing product later this year. AMD has not given a detailed full-year forecast but said it expects sales in its data center business that will contain MI300 sales to be higher in 2023 than 2022's $6.04 billion total.
Jenny Hardy, portfolio manager at GP Bullhound, which owns Nvidia and AMD stock, said that Nvidia still faces supply constraints, leaving an opening for AMD's chip.
"So if AMD can ramp production and launch those MI300 chips in the fourth quarter, they will likely see strong demand because plenty of people cannot get their hands on Nvidia chips. So we would assume that AMD can effectively kind of fill some of that supply-demand gap," Hardy said.
For the second quarter, revenue at AMD’s data center business fell 11% to $1.32 billion, while revenue at its client business fell 54% to $998 million from $2.2 billion a year ago.
Large cloud players like Microsoft (NASDAQ:MSFT) and Google (NASDAQ:GOOGL) plan to ramp up spending on data centers in the second half of the year and that spending will skew toward AI chips and infrastructure, analysts said.
However, PC shipments decline has moderated and demand has started showing signs of improvement.
"Looking to the third quarter, we expect our Data Center and Client segment revenues to each grow by a double-digit percentage sequentially driven by increasing demand for our EPYC and Ryzen processors, partially offset by Gaming and Embedded segment declines," said AMD finance chief Jean Hu.
The company forecast current-quarter revenue of about $5.7 billion, plus or minus $300 million. Analysts polled by Refinitiv expect revenue of $5.82 billion.
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AMD Stock is UP after reporting earnings $5.20 or 4.42% as I post.
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Advanced Micro Devices $AMD Just Reported Earnings:
By: Evan | August 1, 2023
• $AMD JUST REPORTED EARNINGS
EPS of $0.58 beating expectations of $0.57
Revenue of $5.4B beating expectations of $5.32B
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Advanced Micro Devices $AMD Unusual options bubble chart showing at-the-money calls are dominating ahead of today's quarterly earnings report
By: TrendSpider | August 1, 2023
• $AMD Unusual options bubble chart showing at-the-money calls are dominating ahead of today's quarterly earnings report.
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$AMD Wedging and TTM Squeezing ahead of today's Q2 earnings report, this should be a fun one
By: TrendSpider | August 1, 2023
• $AMD Wedging and TTM Squeezing ahead of today's Q2 earnings report, this should be a fun one.
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$AMD #optionsflow Notable Flow here on $AMD on weeklies
By: Cheddar Flow | July 31, 2023
• $AMD #optionsflow
Notable Flow here on $AMD on weeklies
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Earnings spotlight: Tuesday, August 1 - Merck (MRK), Pfizer (PFE), Advanced Micro Devices (AMD), Caterpillar (CAT), Starbucks (SBUX), Uber (UBER), and Altria (MO). JR Research, a Seeking Alpha analyst stated "Given relatively pessimistic analysts' estimates, the market is likely positioned for a disappointing Q2 release for Pfizer."
$AMD Wedging between the swing high and swing low anchored VWAPs, looks ready to make a move
By: TrendSpider | July 29, 2023
• $AMD Wedging between the swing high and swing low anchored VWAPs, looks ready to make a move.
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Advanced Micro Devices $AMD - Still at the B/Test Area...
By: Sahara | July 28, 2023
• $AMD $NYFANG - Still at the B/Test Area...
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$AMD Flow Within The Past 2 Hours
By: Cheddar Flow | July 27, 2023
• $AMD Flow Within The Past 2 Hours
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AMD 'by far the most controversial stock' - Citi
By: Investing.com | July 24, 2023
Citi analysts said in a note Monday that Advanced Micro Devices (NASDAQ:AMD) is "by far the most controversial stock" in the U.S. semiconductor group.
The analysts declared that there are "more subplots than Game of Thrones," with investors lined up on both the positive and negative side of the AMD debate.
"We believe many investors expect a guidance cut, but many bulls expect it not to matter given a sharp ramp in AI revenue in 4Q23 and C24," they wrote, looking ahead to the company's next earnings release.
"We believe the next debate will focus on whether gross margins for AMD’s AI business (MI300) are accretive or dilutive."
AMD shares are up more than 67% in 2023, although it has declined 4.6% in the last week, trading not far below the $111 per share mark.
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$AMD Under the 50D now resistance. Support @ 108
By: Options Mike | July 23, 2023
• $AMD Under the 50D now resistance. Support @ 108.
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Not the best look from AMD, might want to go give that YTD VWAP another test soon.
By: TrendSpider | July 22, 2023
• $AMD Not the best look from AMD, might want to go give that YTD VWAP another test soon.
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Advanced Micro Devices, Inc. $AMD Total Debt (mrq) $2.85B
$AMD Total Debt (mrq) $2.85 Billion
Advanced Micro Devices, Inc. $AMD was a great trader on Friday, but didn't hold the break out. Not the kind of candle you want to see
By: Options Mike | July 16, 2023
• $AMD was a great trader on Friday, but didn't hold the break out. Not the kind of candle you want to see.
50D still support. 117.5 clear interesting again.
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$AMD That wick and volume from Friday was no joke, are sellers about to apply the pressure here on AMD?
By: TrendSpider | July 15, 2023
• $AMD That wick and volume from Friday was no joke, are sellers about to apply the pressure here on AMD?
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