#美股财报周 This earnings season, the company I’m watching most closely is AMD (Advanced Micro Devices). It hasn’t reported earnings yet; it is expected to report after the market close on November 3. The market expects third-quarter revenue of around $13 billion and adjusted EPS of around $1.96.
Why AMD
· AI servers are the main story: Analysts expect server sales to grow more than 80% year over year in the second half, making this the area with the greatest potential to drive earnings.
· MI450 is a key variable: It will show whether AMD’s AI GPUs can move from pilot programs with major customers to large-scale deliveries.
· The PC business is under pressure: Demand for computer chips is weak, but PCs now account for a relatively small share of AMD’s revenue, keeping the impact manageable.
· Market expectations are high: The stock is highly sensitive to an “earnings beat.” Even if results meet expectations, weak guidance for next quarter could still trigger significant volatility.
Three things I’ll watch in trading
· Whether data center revenue exceeds around $13 billion;
· Whether there is clear progress in MI450 shipments and the ramp-up of the Helios rack platform;
· Whether fourth-quarter guidance tops market expectations of around $15.9 billion and $2.56.
My inclination is to wait for the earnings report before judging the direction. Strong results and further guidance increases would be bullish; results in line with expectations but conservative guidance for next quarter could lead to a “good earnings, falling stock” reaction. In earnings season, orders and guidance often have a greater impact on the stock’s subsequent performance than quarterly profits. #Gate广场万圣节
Why AMD
· AI servers are the main story: Analysts expect server sales to grow more than 80% year over year in the second half, making this the area with the greatest potential to drive earnings.
· MI450 is a key variable: It will show whether AMD’s AI GPUs can move from pilot programs with major customers to large-scale deliveries.
· The PC business is under pressure: Demand for computer chips is weak, but PCs now account for a relatively small share of AMD’s revenue, keeping the impact manageable.
· Market expectations are high: The stock is highly sensitive to an “earnings beat.” Even if results meet expectations, weak guidance for next quarter could still trigger significant volatility.
Three things I’ll watch in trading
· Whether data center revenue exceeds around $13 billion;
· Whether there is clear progress in MI450 shipments and the ramp-up of the Helios rack platform;
· Whether fourth-quarter guidance tops market expectations of around $15.9 billion and $2.56.
My inclination is to wait for the earnings report before judging the direction. Strong results and further guidance increases would be bullish; results in line with expectations but conservative guidance for next quarter could lead to a “good earnings, falling stock” reaction. In earnings season, orders and guidance often have a greater impact on the stock’s subsequent performance than quarterly profits. #Gate广场万圣节
