Here comes AMD… (AMD)

Here comes AMD… (AMD)


AP Photo/Matthias Rietschel
AMD is set to report third-quarter earnings after Wednesday’s closing bell.
Shares dropped 7% ahead of the results amid broader weakness in the tech sector.
Follow AMD’s stock price in real time here. 
AMD is set to report third-quarter earnings after Wednesday’s closing bell.
Shares plunged 7% ahead of the results amid broader weakness in the tech sector. Shares have been under pressure this month — down more than 25% from its recent high set on September 14 — after rival Intel reportedly solved its 10 nanometer-chip production problems, and as a brutal stock-market sell-off ravaged the tech sector
Here’s what analysts are expecting, according to Bloomberg:
Adjusted earnings per share: $0.12. 
Revenue: $1.7 billion.

While AMD shares have been under pressure recently, one analyst says a big year is coming in 2019 as its expected to roll out its 7 nm chips.
“We would add to positions on weakness and wait for 2019,” Mitch Steves, an RBC analyst, wrote in a note sent out to clients on Tuesday. 
“We think the AMD story is a 2019/2020 story where the company could gain notable share in servers and potentially mid-high-end PCs as well. Finally, we emphasize that this continues to be a 2019 play given the timing of the 7nm product launch.”

AMD shares were up 110% this year through Wednesday.

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