Here’s how millennials are trading AMD ahead of earnings

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Youtube user Linus Tech Tips

AMD is one of the most popular stocks among young, millennial investors. In the first half of 2017, it was the second most popular stock on the trading app Robinhood, which has proven popular among millennials.

The chip maker reports its third-quarter earnings after Tuesday’s closing bell, and according to data provided by Sahill Poddar, a data scientist at Robinhood, young investors are feeling good about the company’s upcoming report.

In the week leading up to earnings, 20% more investors bought shares of AMD on Robinhood’s platform than sold shares.

The younger users of Robinhood are more bullish than their older peers, Poddar said. Twenty-five percent more users under 30 are buying shares than are selling them. For those over 30, 10% more are buying AMD than selling it.

AMD recently released new central processing units (CPUs) and graphics processing units (GPUs) to try and compete with the incumbents in the space. Nvidia is the AMD’s largest GPU competitor and is seeing a boost from the increased attention being placed on artificial intelligence, which GPUs are well placed to benefit from.

Nvidia is the 14th most held stock on Robinhood, while AMD is the sixth most held company.

Wall Street analysts have a consensus price target of $14.27 for AMD, just 1.2% higher than the current price, according to data from FactSet.

Wall Street is expecting earnings of $0.075 per share, on revenue of $1.5 billion, FactSet data shows. AMD is up 24.36% this year.

Read more about the most popular stocks on Robinhood here.

amd stock price

source
Markets Insider