Advanced Micro Devices, Inc. ( AMD ) is an electric components company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on AMD's earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Advanced Micro Devices could be a solid choice for investors.Current Quarter Estimates for AMD
In the past 30 days, 8 estimates have gone higher for Advanced Micro Devices while 3 have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 1 cent a share 30 days ago, to 2 today, a significant move of 100%.Current Year Estimates for AMD
Meanwhile, Advanced Micro Devices's current year figures are also looking quite promising, with 9 estimates moving higher in the past month, compared to 3 lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 13 cents per share 30 days ago to 18 cents per share today, an increase of 38.5%.Bottom Line
The stock has also started to move higher lately, adding 8.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportADV MICRO DEV (AMD): Free Stock Analysis ReportTo read this article on Zacks.com click here.