AMD stock just posted blowout earnings but tanked 12% anyway. What’s going on?
Advanced Micro Devices (NASDAQ: AMD) just gave us a perfect example of why earnings season can be so confusing for new traders. The chipmaker absolutely crushed expectations on Tuesday, February 3rd, reporting revenue of $10.27 billion versus estimates of $9.67 billion and earnings per share of $1.53 versus expectations of $1.32. That’s a massive beat on both fronts.
So naturally, the stock dropped 12% the next day.
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