WS #16815
AMD reported revenue of $13.40 billion and adjusted EPS of $2.09, both exceeding analyst estimates, while guiding for $17 billion in the next quarter. The company also announced the commercial shipment of its new Epyc Venice processors, signaling strong demand in the data center market. This strong fundamental performance has driven the stock up 9% after hours, offering a rare bright spot in a broader tech selloff driven by political uncertainty. Short interest in the QQQ ETF has reached a 2023 high as investors punish the technology sector over fears that a Democratic Congress will impose stricter regulations on AI industry growth. This sentiment is compounded by specific concerns over Intel's competitive hurdles and Google's advertising model, creating a headwind for the broader tech index despite individual company successes like AMD.
AMD Earnings Beat
AMD reported revenue of $13.40 billion and adjusted EPS of $2.09, both exceeding analyst estimates, while guiding for $17 billion in the next quarter. The company also announced the commercial shipment of its new Epyc Venice processors, signaling strong demand in the data center market. This strong fundamental performance has driven the stock up 9% after hours, offering a rare bright spot in a broader tech selloff driven by political uncertainty.
Short interest in the QQQ ETF has reached a 2023 high as investors punish the technology sector over fears that a Democratic Congress will impose stricter regulations on AI industry growth. This sentiment is compounded by specific concerns over Intel's competitive hurdles and Google's advertising model, creating a headwind for the broader tech index despite individual company successes like AMD.