AMD Earnings to Follow Intel and Qualcomm

After Intel (INTC) and Qualcomm (QCOM) reported disappointing earnings, semiconductor firm Superior Micro Gadgets (AMD) is anticipated to report its outcomes later at the moment.

The corporate is anticipated to report an increase in income and internet income within the second quarter as shipments enhance with easing of supply-chain bottlenecks and sustained demand for chips. The consensus estimate is for AMD’s per share earnings to come back in at $1.04, whereas revenues are anticipated to rise to $6.5 billion—up almost 70% from a yr in the past. 

Analysts will likely be in search of commentary on demand amid a slowdown within the PC and smartphone markets. Qualcomm had given a lackluster forecast for the present interval, saying {that a} weakening economic system will damage client spending on cellular gadgets. Intel reported second quarter outcomes that fell far in need of analyst estimates. The corporate mentioned its information middle chip enterprise would develop slower than the general information middle marketplace for the subsequent two years.

Nevertheless, AMD’s administration in June issued a robust gross sales forecast for the second quarter, indicating the corporate continues to make strides in its most profitable market, information middle processors. 

AMD shares are up 25% during the last month, however are down over 35% for the yr.

“Semiconductors have turn into the de-facto transport shares of the twenty first century, and are a fairly robust indicator of world progress. The blended outcomes we are seeing from chip firms paints a fairly correct image of the slowdowns occurring throughout all developed markets,” mentioned Caleb Silver, Editor-in-Chief of Investopedia.