AMD Shares Surge 11% Following Record Q3 Revenue and Strong AI Growth Outlook
Advanced Micro Devices (AMD) saw its stock price jump 11.04% to close at $449.04, driven by a strong third-quarter earnings report that exceeded expectations. The company reported record quarterly revenue of $13.4 billion, representing a 45% year-over-year increase, with data center revenue specifically surging by 97%. This recovery follows a previous sell-off triggered by regulatory concerns surrounding midterm election results. The market impact is underscored by high trading volume, which reached 45.2 million shares—more than double the three-month average. While analysts project significant continued growth with revenue expected to rise 79% in 2027, investors remain cautious regarding AMD's high valuation, currently sitting at a P/E ratio of 98. The broader semiconductor sector also saw gains, with Nvidia and Intel posting positive closes as AI demand remains a central market driver.
Topics: Data Center Demand Earnings Report Market Recovery Semiconductors
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Part of the story AMD Shares Surge 11% Following Record Q3 Revenue and Strong AI Growth Outlook (6 articles)