Earlier this week I was excited to announce that shares of AMD may finally be jump started today after announcing their earnings for Q3. They announced revenues of $1.46 Billion, earning $0.06 per share and a net income profit of $48 million, making for the first profitable quarter this year.
My thoughts on this is very positive yet shares have still taken a hit of 7% after hours. AMD has announced fantastic partnerships, news, and technologies lining itself up for future growth, but unfortunately the results weren’t strong enough to please investors this quarter.
Hopefully with strong console sales, a slightly rebounding PC market and a well-positioned stance for the future, AMD may be able to start a turn around through the holiday season, but we’ll just have to wait and see. All in all, AMD has gained momentum and some lost ground over the last two quarters and still has a rough road ahead of it.
AMD Closed today at $4.09 and as of now trading at $3.80 in after hours.
I have been long AMD for the last fourteen months and will continue to hold for years to come due to the strong potential that I see in AMD.
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