https://wccftech.com/amd-nasdaq-amd-upgraded-by-jp-morgan-nyse-jpm-cowen-nasdaq-cown-and-a-host-of-other-wall-street-behemoths-on-the-back-of-stellar-q1-2020-earnings/

AMD (NASDAQ:AMD) is reaping the reward today from yesterday’s stellar Q1 2020 earnings report, as evidenced by a string of stock price target upgrades by Wall Street analysts.

As a refresher, for the three months that ended on the 31st of March 2020, AMD earned $1.79 billion in revenue, marking an annual increase of 41 percent and largely in line with the consensus revenue estimates. Notably, the chipmaker’s gross margin computed at a healthy 46 percent, registering a growth of 5 percent relative to the comparable quarter of 2019. As far as the guidance is concerned, AMD expects to earn $1.85 billion (+/- $100 million) in the second quarter of 2020. This guidance marks a 21 percent increase over the revenue reported by the company in the second quarter of 2019. Interestingly, even though the Q2 2020 revenue guidance is generally in line with the previous consensus estimate of $1.95 billion, this projection was below the recent midpoint of expectations. For the entire 2020, AMD now expects to generate growth in revenue of 25 percent, with an upside potential of registering a 30 percent growth for the full year.