Inflation declined in October and November, helping markets to breathe a sigh of relief. However, Federal rate hikes are expected to continue well into 2023. Amid such rate hikes, a recent…
Reuters poll of economists suggests a 60% chance of a U.S. recession in 2023.
Moreover, according to Refinitiv IBES data, profit growth at S&P 500 companies is expected to slow down to 4.9% in 2023 after rising 5.8% in 2022. Mass layoffs have already wreaked havoc in the United States amid the grim economic outlook.
Job cuts announced by U.S.-based employers jumped 13% to 33,843 in October 2022, the highest since February 2021. Also, the Fed’s median estimate for the unemployment rate is 4.6% for 2023 now, up from 4.4% in September.
Advanced Micro Devices, Inc. (AMD)
AMD operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded, and Semi-Custom.
AMD’s forward EV/Sales of 4.79x is 81.3% higher than the industry average of 2.66x. Its forward Price/Sales of 4.91x is 88.6% higher than the industry average of 2.60x.
AMD’s trailing-12-month CAPEX/Sales of 1.80% is 27.3% lower than…
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