Advanced Micro Devices, Inc (NASDAQ: AMD) was rising about 2% Tuesday ahead of its third-quarter earnings print set to take place after the market closes.
When AMD printed second-quarter results on Aug. 1, the stock was volatile the following day, gapping up 1.61% higher to start the session and closing down 7.02%.
For that quarter, AMD reported second-quarter non-GAAP earnings per share of 58 cents, beating the 52-cent consensus estimate. The semiconductor stock printed revenues of $5.36 billion, which exceeded the consensus estimate of $4.81 billion.
For the third quarter, analysts, on average, estimate AMD will report earnings of 68 cents per share on revenues of $5.69 billion.
Ahead of the event, Rosenblatt analyst Hans Mosesmann reiterated a Buy rating on AMD and a price target of $200. Read More…
From a technical analysis perspective, AMD's stock looks bearish heading into the event, forming a possible bear flag pattern on the daily chart.
It should be ...Full story available on Benzinga.com
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