Wall Street is seemingly confident that Advanced Micro Devices Inc. will deliver upbeat third-quarter results for its non-artificial-intelligence business. Its AI business, however, could be a different story.
The chip maker’s stock
AMD rallied in October on the back of a multiyear agreement with AI leader OpenAI, and the next catalysts for AMD shares could come from earnings on Tuesday and an analyst day later this month. But demand for AMD’s graphics processing units going into its Tuesday earnings report looks merely “fine,” according to Morgan Stanley’s Joseph Moore, and he’s “not looking for near-term upside” in that segment.
AMD earnings: Here’s what’s needed to keep the stock rally going
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Wall Street is seemingly confident that Advanced Micro Devices Inc. will deliver upbeat third-quarter results for its non-artificial-intelligence business. Its AI business, however, could be a different story.
The chip maker’s stock
AMD rallied in October on the back of a multiyear agreement with AI leader OpenAI, and the next catalysts for AMD shares could come from earnings on Tuesday and an analyst day later this month. But demand for AMD’s graphics processing units going into its Tuesday earnings report looks merely “fine,” according to Morgan Stanley’s Joseph Moore, and he’s “not looking for near-term upside” in that segment.
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