After markets close today, Advanced Micro Devices (AMD), Alphabet (GOOG), and Reddit (RDDT) will post quarterly results. Markets are keen to watch AMD’s AI-related sales.
After AMD took a step back in competing in the high-end graphics card market of the PC gaming market, it will need to post strong data center revenue this quarter. AI-related chip sales should contribute to its EPS growth of over 30%. Revenue should increase by over 15% Y/Y.
Alphabet might post slow revenue growth in the quarter. Even though it may exceed EPS and sales targets, regulatory scrutiny and rising competition in the AI market are more worrying for investors. Still, Alphabet is managing YouTube well, fending off pressures from Bytedance’s TikTok service.
Ahead of Reddit’s earnings report, shares closed near $80, squeezing short-sellers who hold a short interest of 7.49%. The site is one of the few social networks that will likely grow its user base at a faster pace. Reddit runs a popular forum-style site that attracts users. If profit growth eventually slows, Reddit may monetize the user content by selling it to companies training their artificial intelligence model.
On Wednesday, watch Meta Platforms (META), Microsoft (MSFT), and Roku (ROKU). After markets close, those firms will post quarterly results.
Related Stories
