Advanced Micro Devices Inc (AMD)

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Stock To Watch In The Coming Week: Advanced Micro Devices (NASDAQ:AMD)
By: Investing.com | May 1, 2022

Investors will be bracing for another volatile week in the stock market this week on signs that ongoing bearish sentiment has more room to run, especially when an adverse macroeconomic environment has begun to hurt corporate America.

Rising interest rates, some high-profile earnings disappointments, and escalating geopolitical risk weighed heavily on stocks in April.

For the NASDAQ Composite, the past month was the worst since 2008, as both Amazon (NASDAQ:AMZN) and Apple (NASDAQ:AAPL)—two tech heavyweights—signaled a tough road ahead as supply-chain disruptions and higher costs reduce their profitability.

Shares of Amazon tumbled about 14% on Friday—the stock's biggest drop since 2006—after the e-commerce giant reported a surprise loss and issued weak revenue guidance for the second quarter.

The S&P 500 lost 8.8% in April, its worst month since March 2020, while the Dow Jones Industrial Average was down 4.9% on the month.

Amid this challenging economic backdrop and uncertainty regarding corporate growth, we've short-listed three stocks that could see some accelerated trading action after they report quarterly numbers during the week ahead:

1. Advanced Micro Devices

Advanced Micro Devices (NASDAQ:AMD) will report its latest quarterly earnings on Tuesday, May 3, after the market close. Analysts expect the Santa Clara, California-based chipmaker to report $0.91 a share profit on sales of $5.01 billion.


AMD Weekly TTM

After a powerful rally in 2021, AMD shares have been under intense selling pressure this year. The stock is down about 40% year-to-date, at a time when the benchmark Philadelphia Semiconductor Index has weakened by about 27%. Shares closed at $85.52 on Friday.

This sell-off comes despite the chipmaker producing a surprisingly strong sales forecast in February, suggesting it’s making additional gains in computer processors versus archrival Intel (NASDAQ:INTC).

The chipmaker’s first quarter sales outlook showed that AMD is reaching a level of profitability that’s nearly identical to Intel’s—something that would have been inconceivable just a few years ago. First-quarter revenue will be $5 billion, plus or minus $100 million, according to AMD.

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