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ADVANCED MICRO DEVICES, INC.

(AMD)
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Advanced Micro Devices Trades at Record Levels After Xilinx's Strong Earnings Report

07/29/2021 | 01:02pm EDT

By Maria Armental

Advanced Micro Devices Inc. is on track for a record closing Thursday, a day after Xilinx Inc. reported stronger-than-expected quarterly results, including profit more than doubling from the year earlier despite industry-wide supply chain challenges.

Chip-maker AMD is buying Xilinx in a deal that is expected to close by year's end.

AMD recently traded around $104.29, up 6.5% for the day, and on track to beat yesterday's record closing of $97.93. Xilinx recently traded around $146.26, up 5.6%.

Both are among the top five best performers by daily percentage gain on the S&P 500, according to FactSet.

The two companies have highlighted strong data-center demand as more companies transition back to the office.

California-based Xilinx pointed to a 14% sequential revenue increase from the data-center group, driven by hyperscale cloud customers and the fintech market.

AMD, which also reported a better-than-expected financial performance in the latest period, said overall data-center revenue nearly doubled from the year earlier and increased sequentially from a high-teens percentage of overall revenue in the first quarter to more than 20% in the second quarter.

AMD raised its projection for revenue growth to about 60%, from about 50%, and said that the data-center business is expected to remain a strong driver into the second half of the year.

Write to Maria Armental at maria.armental@wsj.com

(END) Dow Jones Newswires

07-29-21 1502ET

Stocks mentioned in the article
ChangeLast1st jan.
ADVANCED MICRO DEVICES, INC. -2.20% 103.88 Delayed Quote.13.27%
XILINX, INC. -2.21% 153.78 Delayed Quote.8.47%
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Analyst Recommendations on ADVANCED MICRO DEVICES, INC.
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Financials (USD)
Sales 2021 15 582 M - -
Net income 2021 2 795 M - -
Net cash 2021 4 477 M - -
P/E ratio 2021 45,8x
Yield 2021 0,16%
Capitalization 126 B 126 B -
EV / Sales 2021 7,80x
EV / Sales 2022 6,56x
Nbr of Employees 12 600
Free-Float 98,8%
Chart ADVANCED MICRO DEVICES, INC.
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Advanced Micro Devices, Inc. Technical Analysis Chart | AMD | US0079031078 | MarketScreener
Technical analysis trends ADVANCED MICRO DEVICES, INC.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 38
Last Close Price 103,88 $
Average target price 112,61 $
Spread / Average Target 8,40%
EPS Revisions
Managers and Directors
Lisa T. Su President, CEO & Non-Independent Director
Devinder Kumar Chief Financial Officer, Treasurer & Executive VP
John Edward Caldwell Chairman
Mark D. Papermaster CTO, Executive VP-Technology & Engineering
Keivan Keshvari Senior Vice President-Global Operations
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