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Stock Market Today: Dow Eyes 2% Jump as AMD Earnings Ease AI Spending Fears
The company said data-center revenue nearly doubled and fourth-quarter sales will grow 66%, easing investor worries about AI spending.
- On Tuesday, November 3, Advanced Micro Devices reported record third-quarter revenue of $13.38 billion, with adjusted earnings of $2.09 per share topping the $1.97 consensus estimate.
- Data center revenue surged 97% to $8.5 billion, powered by strong demand for Epyc CPUs and MI450 GPUs. CEO Lisa Su stated demand is currently "higher than supply."
- Management projected fourth-quarter revenue of approximately $17 billion, a 66% year-over-year increase, and guided for 80% total revenue growth in 2027. CFO Jean Hu said, "We expect to continue to invest in inventory and capacity to support our strong growth in 2027."
- Morgan Stanley analyst Joseph Moore raised his price target to $550, suggesting nearly 15% upside. JPMorgan maintained a Neutral rating, while BofA cut its target to $650, citing contracting sector multiples.
- Broader AI chip stocks lagged the market rebound as investors weighed supply constraints and Intel's weak guidance. AMD continues to gain share from Intel, though industry leader Nvidia still dominates the AI accelerator market.
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AMD's data center revenues increased by 97 percent and the outlook for 2027 is convincing. Which price brands decide whether the stock's recovery will turn into a turnaround?
·Kassel, Germany
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BizTocStock Market Today: Dow Eyes 2% Jump as AMD Earnings Ease AI Spending Fears
AMD just reported a quarter that sent shockwaves through premarket trading, but whether one blowout earnings report can rebuild confidence across the entire AI trade is a question the rest of the day still has to answer.
·Lakewood, United States
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Total News Sources13
Leaning Left1Leaning Right2Center7Last UpdatedBias Distribution70% Center
Bias Distribution
- 70% of the sources are Center
70% Center
C 70%
R 20%
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