The latest trading session saw Advanced Micro Devices (AMD) ending at $103.51, denoting a -1.03% adjustment from its last day's close. This move was narrower than the S&P 500's daily loss of 1.07%. Meanwhile, the Dow lost 0.62%, and the Nasdaq, a tech-heavy index, lost 1.71%.

The chipmaker's shares have seen a decrease of 7.52% over the last month, surpassing the Computer and Technology sector's loss of 11.12% and falling behind the S&P 500's loss of 7.03%.

Market participants will be closely following the financial results of Advanced Micro Devices in its upcoming release. The company is expected to report EPS of $0.93, up 50% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $7.11 billion, indicating a 29.98% increase compared to the same quarter of the previous year.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.59 per share and revenue of $31.87 billion. These totals would mark changes of +38.67% and +23.61%, respectively, from last year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Advanced Micro Devices. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.08% lower within the past month. Right now, Advanced Micro Devices possesses a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Advanced Micro Devices has a Forward P/E ratio of 22.78 right now. This expresses a premium compared to the average Forward P/E of 14.49 of its industry.

Investors should also note that AMD has a PEG ratio of 0.89 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Computer - Integrated Systems stocks are, on average, holding a PEG ratio of 1.46 based on yesterday's closing prices.

The Computer - Integrated Systems industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 139, which puts it in the bottom 45% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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Advanced Micro Devices, Inc. (AMD) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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