AMD (AMD.US) will present its quarterly report just after the close of the trading session on Wall Street. Analysts expect the company to follow in the footsteps of Intel (INTL.US), which raised its guidance for the second quarter of 2023 during last week's results. What to look out for in today's report?
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Investors will be paying particular attention to whether the chipmaker continues to take share in the data centre sector, a lucrative area where AMD is expanding its market share relative to Intel's dominance.
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Intel has indicated that the oversupply of PC components is likely to be at its worst at the moment, with further prospects showing increasing customer demand.
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On the other hand, however, following Intel's results, analysts are lowering their targets for AMD for the second half of the year. The company itself may also be hard-pressed to make a similar surprise to Intel due to much higher expectations for AMD.
Bloomberg's current consensus and AMD's quarterly results to date. Source: Bloomberg
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AMD shares hold above the 50-day exponential moving average shortly before the release of quarterly results. Source: xStation 5
