The earnings report is solid, and I remain bullish, ready to buy in the 140-145 range!

1) Revenue reached $6.82 billion, exceeding expectations of $6.71 billion, representing a year-over-year increase of 17.57%. Data center revenue was $3.55 billion, hitting a quarterly record and also above the expected $3.46 billion. This indicates that core cloud providers are maintaining high capital expenditures.

2) Gross margin held steady at 45%, reflecting effective cost control measures and improved supply chain efficiency.

3) Net profit was $771 million, up 157% year-over-year, also beating market expectations of $730 million, driven primarily by high-margin products.

4) Market share in the PC GPU segment remained at 16%.

5) Looking ahead, demand is expected to continue growing in the second half of the year, and the company plans to actively pursue new market opportunities.

While the data significantly exceeded expectations, the slightly lower guidance for the next quarter is the main reason for the stock's decline post-earnings. Q4 revenue is expected to be between $7.2 billion and $7.8 billion, compared to the market expectation of $7.55 billion.

The market would have preferred to see AMD provide guidance that exceeded expectations to demonstrate the strength and demand for its latest MI300 chips. As it stands, this guidance is not sufficient to satisfy market sentiment.

However, in my opinion, if it's just a matter of expectations, it won't dictate the market's direction moving forward. Any positive news could trigger a rebound. It's also important to keep an eye on the overall market sentiment towards AI.

Also i just found that Cathie Wood bought more shares of AMD today. Please fly!!!